Bitcoin (BTC) rose earlier this week, surpassing the $ 12,000 resistance level, but began to decline with rejection. BTC fell sharply from the previous day, dropping towards the $ 10,000 level. The leading cryptocurrency was trading at $ 10,502 at the time of writing.
Analysts generally stated that $ 10,500 was a critical level and that if BTC could not hold on to this level, it would experience serious declines. Predicting that BTC may decline this week, and analyst Coiner-Yadox, who was justified in his prediction, made new predictions. According to the analyst, BTC may retest the $ 11,000 level in the coming days. Coiner-Yadox used the following statements on the subject:
“Okay, here’s my perfect BTC script for the coming days. SFP can create something like 61.8% pattern, end dump, 4-hour bullish div. Therefore, between 10 thousand 130 and 9 thousand 970, a lower close and a higher lower RSI may occur compared to the 4-hour chart. Approaching the splash. Go get those high levels. There may be a continuation of the dump next week. Let’s see what will happen?”
Analyst Josh Rager emphasized the relationship between CME and BTC. Analyst Rager used the following statements:
“The CME Bitcoin Futures difference was discovered because the price did not drop to $ 9,665. However, the price entered the $ 9905 gap on the futures chart. Whatever the gaps are, it is speculation, but I want to think this is good enough for a bottom. Time will show us…”
There shouldn’t be too much excitement
Analyst Slim Trady stated that we shouldn’t get too excited about FOMO:
“Don’t get too excited for FOMO. The whales expect 100% liquidity to sell, and we’ll need to retest support before making new peaks. If you make money today in the long run, it’s probably a good idea to turn them off quickly. The market will be volatile for a while. “