Bitcoin (BTC) continues to consolidate at $ 11,300 dollars. According to analysts, if this level breaks, it is possible to see an increase again in BTC.
According to popular analyst The Moon Carl (@TheMoonCarl), there is little time to reach the $ 20,000 level in Bitcoin.
There is a Strong Resistance
According to other analysts, Bitcoin faces strong resistance. Popular analyst Aayush Jindal also made statements on the subject. Bitcoin is struggling to gain a bullish moment above $ 11 thousand 300 against the US Dollar. BTC can continue to decline as long as it does not exceed the 100 hour SMA. Bitcoin is facing strong resistance near the $ 11,300 and $ 11,400 levels.
The price is now trading below the $ 11,400 level and the 100 hourly simple moving average. The hourly chart of the BTC / USD pair has a short-term bearish channel formed with resistance at around $ 11,230. The pair is expected to be close to the levels of 11 thousand and 10 thousand 840 in the near term.
Can Attract Bitcoin to 12,000
Popular analyst Josh Rager stated that the increase of Chainlink (LINK) to $ 10 will increase Bitcoin to the level of $ 12 thousand. LINK was trading at $ 9.54 at the time of writing, and Bitcoin was trading at $ 11,311.