Bitcoin (BTC) Falls to $11,000, Loses Key Support Levels: Correction Talk Mounts

After managing to stay situated above $11,000 for a number of days, Bitcoin (BTC) has begun to slip. This is a far cry from the performance seen earlier this week, with one day seeing Bitcoin post a 20% daily gain. With this poor performance, which has effectively reversed all of this week’s gains, analysts have begun to fear that at long last, Bitcoin may just be poised for a deep correction.

So, what exactly are analysts thinking, and what is the cryptocurrency market looking like from a technical standpoint? Well, as popular trader Mr. Chief/Halo Crypto points out, the recent move to $10,500 sees BTC break under a key uptrend line, one that has held since early-June when the asset was around $8,000. BTC has since recovered, finding itself at $11,000, but the technical damage may continue with the break under this line.

Original source
https://ethereumworldnews.com/bitcoin-btc-falls-to-11000-loses-key-support-levels-correction-talk-mounts/

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