Bitcoin (BTC) experienced a serious rise last night, rising above $ 10 thousand 300.
The leading cryptocurrency is trading at $ 10 thousand 114 as of writing the news. A rally may begin soon in Bitcoin, according to analysts. However, some analysts say that a correction might take place first.
BTC is currently trading at less than $ 10 thousand 370, below $ 10,200. Famous analyst Aayush Jindal states that Bitcoin could fall to $ 9 thousand 950 in the short term. There are many downsides and the first one is around 9 thousand 950 dollars, according to the analyst. According to the analyst, the next support is at 9.875 or close to the 50% Fib retracement level of the last rally.
What Can Happen in the Next Hours?
There are bullish trends as well as downward supports in Bitcoin. According to Aayush Jindal, $ 10 thousand 371 is the closest resistance level. If the bulls manage to overcome this resistance; According to the analyst, the resistance zone of 10,500 dollars can also be tested. If the gains continue later, BTC could head to the $ 11,200 level.
Popular analyst Josh Rager also points to the same region of rising. According to Rager, when the BTC breaks $ 10 thousand 370, the bull rally may begin.