Crypto traders cautious on Bitcoin price as rally to $11.7K goes sour

After the price of Bitcoin (BTC) achieved $11,720 on Binance, traders began to turn slightly skeptical on the dominant cryptocurrency. Despite the initial breakout above two key resistance levels at $11,300 and $11,500, BTC recorded several rejections. While it might be premature to predict a marketwide correction, the level of uncertainty in the market seems to be rising.

In the short term, traders pinpoint the $11,200 to $11,325 range as a critical support area. If that region holds,…


Source link

About bitcoin

Check Also

Pro traders added to shorts as Bitcoin price broke $12K, data shows

As Bitcoin (BTC) breaks the $12,000 resistance, derivatives markets are flirting with overly excessive bullish …

Leave a Reply

Your email address will not be published. Required fields are marked *