THELOGICALINDIAN - Bitcoin on the Verge of Losing the Bull Trend
Bitcoin has slipped over the accomplished 72 hours. After peaking at $12,500 on Monday, the asset has slipped lower and lower, now trading for $11,450. This isn’t abundant than it was aloof a anniversary ago, but analysts accept amorphous to mark out important levels as the declivity may persist.
One cryptocurrency banker aggregate the blueprint beneath on August 21st. Along with assuming the contempo amount action, it shows important levels for BTC to authority affective forward.
Per the banker Bitcoin charge authority both $11,000-11,200 and $10,600 to advance the balderdash trend:
Another analyst has acicular to the low-$11,000s as an important akin for Bitcoin to hold. One acclaimed that there is “heavy support” in that arena due to the alliance BTC saw in that arena beforehand this month.
$10,500 Could Hold, Technicals Suggest
Even if $11,000 breaks, analysts accept some aplomb that the $10,500 akin will hold.
For reference, that specific akin is one of macro accent to Bitcoin. As readers are acceptable acquainted of, $10,500 was a akin at which three abstracted BTC rallies topped at: one in October 2024, one in March 2024, and already in June of this year.
It already captivated already during this rally, with a beam blast bouncing appropriate aloft $10,500. The akin is acceptable to authority for a additional time should Bitcoin analysis the akin due to the Ichimoku Cloud abstruse indicator.
Another banker shared this blueprint on August 21st. It shows that the Ichimoku Cloud’s “Kijun” band sits at $10,600 at the moment.
