THELOGICALINDIAN - Bitcoin Confirming This Level As Support at the Close is Key
Last week, Bitcoin did what abounding anticipation would be acutely difficult: BTC bankrupt its account candle aloft $11,500. $11,500 has been a cardinal akin for the asset for the accomplished two years; Bitcoin bootless to best that akin on a account base in aboriginal 2024 and at the 2024 highs.
Despite the move aloft $11,500, banker Josh Rager thinks that Bitcoin is adverse bottomward addition important level.
Referencing the blueprint below, Rager wrote on August 16th:
Rager isn’t the alone analyst eyeing the $11,685 arena as a akin for Bitcoin to abutting aloft to affirm their bullish bias. One bearding analyst wrote that $11,760 is additionally key:
Where’s BTC’s Next Stop? Analysts Weigh In
If Bitcoin closes aloft the levels the analysts above identified, area can we apprehend BTC to move towards?
According to commentators, a move appear $13,000 is absolutely on the table.
One banker explained, as reported by Bitcoinist previously, that $13,000 is absolutely accessible due to that akin actuality a “yearly pivot”:
Others agreed with this, acquainted that the abutting akin of macro accent afterwards $11,500 is $13,000.
