Bitcoin (BTC), which has been accelerating upwards recently and reached up to 12 thousand dollars, continues to consolidate between 11,200 – 11 thousand 300 levels after the correction it has experienced. According to popular analyst Aayush Jindal, Bitcoin must climb above the $ 11,500 resistance zone to start a new rally.
Last week, there was a significant increase in Bitcoin price above the $ 11,000 and $ 11,500 resistance levels. BTC rose above $ 12,000 before sharply correcting the lower level. The leading cryptocurrency is trading above the 11,300 level at the time of writing, and the bulls seem to target an increase towards the level of $ 11,500 or $ 11,800.
According to Jindal, the weekly main resistance is around $ 11,500, where the price can revisit the $ 12,000 level. Disadvantageously, the $ 10,800 level is an important boost followed by the $ 10,550 level (the breakout region of the past week).
“Everything Will Be Fine”
Famous analyst and trader Josh Rager stated that everything will be fine in Bitcoin. Rager said:
“The latest Bitcoin withdrawal was only 15%. In the last bull market, there were 6% withdrawals of 30% and above. Everything is gonna be okay.”