Bitcoin Could Test $9100 In The Next Days

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Bitcoin Eyeing $11800 After Intense Drop

As we saw earlier today, Bitcoin started by declining from $11349 to $11176, roughly 1.76%.
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The large-cap cryptocurrency Bitcoin, are seeing significant losses as it consolidates, at the moment BTC is trading around $9800.

Bitcoin’s price action is is setting up for a classic Cup and Handle Pattern, which could end up with bitcoin going as low as $9100. If this teori should be valid, we should see it in the coming days.

Source Tradingview

As we can see above, there is a major resistance at the price range $10500, which wasn’t broken a few days ago. When Bitcoin reached this level, it dropped dramatically, which resolved in $341 Million shorts got liquidated on BitMex alone.

If Bitcoin manages to breach the Resistance at $10500, we should be able to see BTC go towards $11000, which would be the first time since October 26, 2019. The cryptocurrency news india phrase is also picking up searches in india

Disclaimer:
The Author is currently holding Bitcoin, Litecoin, and Dash.

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