The price of Bitcoin did not remain above $ 11,000 and continued to decline against the US dollar.
Bitcoin faces the price traded below the $ 10,000 and $ 9,800 support levels to enter a lower zone.
In the hourly chart of the BTC / USD parity, there is a new connection trend with a resistance of $ 10.060 (data flow from Kraken).
According to analysts, in the near term, the risk of further losses is below US $ 9,200 and the US $ 9,000 support level.
The Bitcoin price fell 15 percent to $ 9,500 against the US dollar. BTC remains at greater risk of loss, and analysts say the $ 8,800 drop target is still on the cards.
According to analysts, the $ 8,800 drop target for Bitcoin
This week, we saw a major drop in the price of the Bitcoin against the US dollar below the $ 10,500 support. The BTC / USD pair found close support of $ 9,800 and made a higher correction yesterday. It went above $ 10,500, but struggled to gain momentum above $ 11,000. A channel formed near the $ 11,100 level and near the 100-hour simple moving average. As a result, the price has started a new drop below the support level of $ 10,500.
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