BTC/USD Technical Analysis
Over the past week, the BTC Price has been stabilizing between 9.5K-9K. If it breaks 9.5K then it can retest 9.8K-10K. Both 9.2K and 8.5K are the Important Level.9.2K, BTC will be dumped at 8.5K if that break. 8.5K is the key level which can take correction to BTC 7.6K - 6.2K if broken
Do we have any relevant events that could pull Bitcoin down when it hits the support level of $8,5k? Or these are purely based on the chart pattern movements?
It has been a few weeks since Bitcoin remains at the region of $9,000 - $10,000 level, and It doesn't show any obvious indicators that it will fall down below the support level again. Once it touches the edge of $9,000, it usually bounces back to a couple of hundred dollars again in 24 to 48 hrs.
There might be something that is really hindering the Bitcoin price to go beyond $10,000 level.