“Yikes. Clean reaction no more. Needs that 11700 hold for me. Hour and a half to go,” the trader commented.
Other analysts have corroborated the sentiment of the importance of the aforementioned region. Referencing the same region that the aforementioned trader mentioned, another commentator explained:
What’s next for BTC if it manages to hold the aforementioned support levels?
As optimistic as this may sound, they think that eventually, a move towards $13,000 will be had. $13,000 is the next macro resistance level that Bitcoin faces down after $11,500, some commentators have suggested.
$13,000 is also the target of the ascending triangle Bitcoin has been trading in over the past two weeks. This target is calculated by taking the height of the triangle, $1,000, and extending it upward from the top of the ascending triangle to $13,000.
Some have even gone as far as to say that $14,000 is likely. Another trader who assigned importance to the support around $11,700-11,800 noted that if the asset can hold that level, $14,000 will soon be had.
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