The leading cryptocurrency Bitcoin (BTC) is struggling to break the $ 2,200 resistance zone. According to analysts, if BTC breaks 9 thousand 200 dollars, the rise may start. However, popular analyst Crypto Michael states that markets can surprise investors with a serious drop or rise. The analyst uses the following statements:
The markets can surprise investors and traders in the exceptional downwards movements.
They can also surprise investors and traders in the upwards movements.
— Crypto Michaël (@CryptoMichNL) July 18, 2020
Is a Strong Rally Coming?
According to expert analyst Aayush Jindal, BTC could start a strong rally if it crosses the $ 9,200 resistance zone. According to the analyst, the 4-hour chart of Bitcoin includes a run pattern formed with resistance at $ 9,200.
Jindal said that if BTC exceeds 9 thousand 200 dollars, it will face resistance levels of 9 thousand 300 dollars and then 9 thousand 500 dollars. On the contrary, BTC may drop towards the levels of 9 thousand, 8 thousand 950, 8 thousand 650 and 8 thousand 500, respectively.