Bitcoin has still failed to rise above the $ 11,000 threshold. According to analyst Aayush Jindal, the next Bitcoin correction could pull the price to the $ 10K level.
We have compiled important details from the Bitcoin analysis made by crypto currency commentator Aayush Jindal for you.
- Although Bitcoin managed to rise above the 10,900 level yesterday, it could not exceed the $ 11,000 level, which was determined as a strong resistance zone.
- The rejection from the resistance zone sparked a bearish reaction and Bitcoin fell below the $ 10,800 support zone.
- BTC price is currently hovering below the 100-hour simple moving average level of $ 10,750.
- This time, the support zone for Bitcoin is observed as 10,650 dollars.
- A bullish trend line is seen in the $ 10,650 support zone for the BTC / USD pair.
- If a negative break is observed in the trendline support, BTC price may see the $ 10,550 support again.
- If an upward streak is caught, there may be a selling pressure at $ 10,800.
- For Bitcoin to perform well in the near future, the barrier to $ 11,000 and a closing above this level is of great importance.
The First Goal Is 10 Thousand 800 Waters Before 11 Thousand Dollars
- The first target to be surpassed for the Bitcoin price, which is currently traded around the level of 10 thousand 700 dollars; 10 thousand 800 dollars again.
- If Bitcoin cannot exceed $ 10,800, it may face a downside break.
- In this scenario, breaking the first critical support zone below the 10,650 threshold could bring further declines.
- After the 10 thousand 650 point, the most basic support will be the level of 10 thousand 500 dollars.
- A clear break at $ 10,500 can cause a decline and the BTC price can test $ 10,000.
Read More: Has a $ 10K Correction Appeared for Bitcoin?