Bitcoin’s (BTC) price has been showing some slight strength in the previous week as BTC rallied from $10,000 to $11,200. However, the crypto market’s overall consensus has been showing weakness with double-digit selloffs for many of the smaller-cap cryptocurrencies.
This selloff appears to have taken hold as Bitcoin price confirmed $11,200 as resistance in the previous weekend.
Rejection as $11,200 leads to a downward spiral
BTC/USD 1-day chart. Source: TradingView
In the previous analysis,…