Bitcoin Could See an Accelerated Decline to $9,500 if It Breaks One Key Level

george 2 980x601

Bitcoin’s price has been largely stagnant over the past couple of days, with its recent uptrend stopping short of leading the cryptocurrency up to highs of $11,000 BTC has been able to maintain the bulk of its recent gains despite the selloff seen yesterday afternoon This selloff caused it to wick as low as $10,500 on some exchanges, but the decline was fleeting and followed by a strong rebound Although Bitcoin has been consolidating ever since, one analyst believes that this is the calm before the storm He is setting his sights on a move down towards $9,500 in the near-term, which would mark one of the lowest prices it has seen in many months Bitcoin and the entire cryptocurrency market have been struggling to maintain their upwards momentum, which is likely due to the strong resistance that BTC is facing around $11,000. The strength of the resistance that sits…

Read the original article here