Bitcoin has experienced a sharp decline over the past few hours and has experienced over 8% decline so far. Some market experts believe that the trend is likely to continue until the $ 8600 gap in CME futures is filled and Bitcoin will register another 30% fall in the coming days.
After a short period of consolidation, the resistance to bitcoin appears to have broken, and it is reportedly below the $ 11,000 support level previously thought to be a buyout point for Bitcoin. He's gone, he's fallen.
Well-known analysts and analysts at the Remarks market believe the drop may continue as long as Bitcoin can fill the gap in CME futures in the lower $ 8,000 range. This means that investors in the Ramsar and Bitcoin markets are likely to experience a 30% devaluation before the market turns around and prices rise.
Bitcoin crash sales pressure
At the time of writing, bitcoin is priced at $ 10,400 per unit, down 7 percent from the previous day. Over the past 24 hours, however, the razor has fallen sharply to the current levels of $ 11400. It is clear that today's depreciation marks the start of a downtrend for Bitcoin that has begun a few days ago. The trend that initially started after bitcoin fell to its highest level of the week at $ 12,000 and is now at its peak.
The remarkable point is that the $ 12,000 resistance has proven to be a strong bitcoin resistance level because Bitcoin has failed several times to try to cross the area.
Analysts now believe that the downtrend in the Romanesque market is likely to decline in the coming days. Mitoshi Kaku, a leading analyst on the Ramos market, wrote in a recent tweet that the next key resistance level for Bitcoin would be $ 10600.
Kako believes in the weekly chart that I look at the two key resistance levels of $ 10600 and $ 10100.
It should be noted that bitcoin in the CME futures chart has two big gaps or gaps. One at $ 11800 and the other at $ 8400. Historically, it is highly unlikely that Bitcoin will not fill these gaps. This means that bitcoin is capable of reaching these two price levels in the near future. One above and one below current prices.
Another market analyst tweeted that he believes we will soon see both gaps close. The analyst further explained that Chat 10890 is completely filled. There are 2 more chats that need to be filled, $ 11800 and $ 8400. Be sure both will be filled.