What's Next For Bitcoin Prices After Their Latest Retracement?

Kiana Danial, CEO of “$11,235 is the neckline of the head and shoulder chart pattern Bitcoin is forming at the moment,” she stated.

“A confirmation of a break below this level could open doors for further drops towards $10,400,” added Danial. “Otherwise, we could expect the BTC/USD pair to consolidate between $12,400 and $11,235 until it finds a new direction,” she stated.“Bitcoin reversed yesterday’s gains with strong volume and is now below yesterday’s closing price,” he stated.

“These are often indicators of price rejection which often bring more significant corrections,” said Pearlstone.“Important levels of support to watch on the current pullback are $10,500 and $9,500,” said Pearlstone. “Price could fall much further if we see $9,500 break with strong volume, but until those resistance levels break down convincingly, Bitcoin continues to consolidate within the range.”

Forbes can’t spell them.

100k comin soon

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