Analyst explains: That’s why Bitcoin won’t fall much lower than $ 11,000

Bitcoin may not go below $ 11,000
Several analysts have voiced their view in the past few days that Bitcoin is poised to fall towards $ 10,500. However, one crypto trader does not expect BTC to be much lower than $ 11,000 – another level that analysts have been placing great emphasis on recently. Referring to the chart below which shows the importance of the support at $ 11,000-11,500, the analyst explains:
“I can imagine $ BTC holding $ 11,000 in one break-in. It would be worrying if he didn’t, but with the guppy popping up every day and the people expecting $ 10,500 back (me included), I think front running is happening. Yes, $ 10,5,000 is a support, but a strong breakout here would be ideal. Usually $ BTC is not retested “perfectly”. “

$ 10,500 must hold, provided the price hits the level
However, should Bitcoin fall to $ 10,500, so analysts say, this level must hold, otherwise BTC risks a strong correction. On the importance of $ 10,500 and another important technical level, one trader recently said this:
“Levels to watch out for in $ BTC as we continue to fall: $ 11.2-11k and $ 10.6k. Should these two main pillars be broken, this could signal a trend reversal in the medium to long term. So far, no $ 11,000 has been robbed in the last few weeks “