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Bitcoin Price: Technical Analysis

Technical Analysis

What happened

As we forecasted last Monday, bulls have briefly broke the $11200 level up, but then surrendered their positions. Bitcoin went into correction towards $9100.

What’s next

In the short-term, we expect a consolidation around $9100-$9600 with a further drop to $8500. This week there might be another bullish attempt to raise the price over $10000 – currently BTC trades just above this mark. If Bitcoin is steadily traded above $10K, the growth towards $12600 is expected.

Disclaimer

Our price analysis is for information purposes only. Please make the Bitcoin purchase and investment decisions independently at your own risk.

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