Bitcoin “Looks Good” For a Pullback as Price Fails to Pass Key Level


Bitcoin has surged $1,000 from last week’s lows of $10,400. At $11,400, the cryptocurrency remains decisively higher than it was before this rally. Even still, analysts think that Bitcoin is primed to undergo a reversal as its short-term to medium-term chart flashes a number of warning signs. Bitcoin Could Face a Short-Term Pullback as Price Fails to Pass Breaker One crypto-asset analyst recently shared this chart below. It shows that BTC’s recent rally ended right at a key “daily breaker level,” suggesting that the coin is “good for a pullback” in the days ahead. As to what exactly he expects to happen, he thinks that Bitcoin will range between $11,700 and $10,700 for the foreseeable future, as that’s where crucial technical levels lie. Commenting on the specifics of the chart, the analyst who shared it wrote: “Price tagged bearish daily breaker confluent with EQ As good as price looks for…

Read the original article here