- BTC/USD is in consolidation mode since June 2019, making lower low and lower highs.
- The level to beat for bulls is the 11,000 handle.
BTC/USD daily chart
Bitcoin is making lower lows and lower highs in what is currently a pullback down from the peak in June 2019. In October the market spike above 10,000 and is now consolidating above the 9,000 handle. The bulls should ideally break above the 11,000 mark to create a higher high to resume to bull trend. Further above, 12,000 will likely be the next resistance. Having said that, a daily close above 10K would certainly be a bullish sign for Bitcoin.
However, a break below 9,000 and the 200-day simple moving average (DMA) can lead to further weakness towards the 8,000 level.
Additional key levels
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