Bitcoin is testing on the $11,000 price range for the third time since the breakout above $10,000 a few days ago. Will this one stick? Or will we see more downside/sideways action? Twitter analysts have weighed in on this current action.
BTC/USD Chart provided by Tradingview
Many traders are out doing their due dilligence in analyzing the current price range, pointing out that a break of $11.4K is the resistance to watch:
$BTC thoughts for the current range— Luke Martin (@VentureCoinist) June 24, 2019
- 11.2/11.4k is resistance
- 10.2 or 9800 both more ideal than current price as dips
- Invalidation below 9800
- 4hr or daily close above 11.4 means continuation higher
*snip from my daily stream on Saturday covers why 11.2k selling pressure pic.twitter.com/HX6SBJ3sWY
Others are pointing out that it is looking like we may be about to get stopped out again just above $11,000:
Continuing to drop off... top may be in for this leg. $11000 seems like the distribution zone. I expected 11.5 > 9.2 but maybe 11.3 was it.— Nik Patel (@cointradernik) June 24, 2019
looks like this run is going to be finished fast 😅$11021 atm pic.twitter.com/uvX2NUhWub— Beastlorion (@Beastlyorion) June 24, 2019
Some however are pointing out that recent "head and shoulder" patterns have all ended bullish for the price, and if this one breaks down it would be a surprise:
BTC's troll to everyone is a H&S top that actually breaks down.— battbot (@In4Crypto) June 24, 2019
Still others have pointed out that CNBC have been bullish on Bitcoin today, a sign that often means immintent downturn:
— ฿ully (@BullyEsq) June 24, 2019
At the time of this writing, Bitcoin is hovering just over $11,000 as a market average, with Coinmarketcap.com reporting $11,008.59. Can the price hold here this time, and push to resistance at $11.4K?
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