Bitcoin Dips Below $10,000, But Bulls May Soon Take Control
Bitcoin has once again dropped to its key support level of $10,000, although each minor dip below this level over the past 24 hours has been met with relatively strong buying pressure. If BTC is unable to surge from this level, however, it could once again revisit its historically strong support region that currently exists in the lower $9,000 region.
Analyst are now noting that Bitcoin is likely to surge one more time before it drops decisively below $10,000, but if history repeats, the next drop could be met with significant buying pressure that sparks the next uptrend.
Bitcoin Dips Below $10,000 as Sellers Build Strength
At the time of writing, is trading down nearly 2% at its of $10,070, which marks a slight recovery from its 24-hour lows of just below $10,000.
Over the past three months, BTC has been facing a bout of consolidation, with each dip towards $9,000 being met with strong buying pressure, while each movement towards $11,000 has resulted in strong and swift rejections.