Here’s Why Bitcoin May Not Fall Much Lower Than $11,000: Analyst Explains

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While Bitcoin has bounced from the local lows of $11,400, the asset remains below some crucial resistance levels. This has led some analysts to suggest that BTC is still poised to correct lower. Many analysts are eyeing $10,500, as that’s where the cryptocurrency truly began the rally $12,000. $10,500 is also a pivotal technical level for Bitcoin from many perspectives, including the historical perspective. BTC may not fall as low as $10,500, though, with a trader noting that a correction will likely be “front ran.” But should Bitcoin visit the $10,500 region, analysts say that Bitcoin losing that level could spell disaster for bulls. Bitcoin May Not Fall Below $11,000 if the Dip Continues: Here’s Why Multiple analysts have said over recent days that Bitcoin is primed to fall towards $10,500. One cryptocurrency trader, though, doesn’t think that BTC will trace much lower than $11,000, another level that analysts have…

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