Following a massively volatile past few days for Bitcoin and the aggregated crypto markets, BTC has now been able to slow down and find some stability around $10,700 and is forming $10,500 as a level of support.<\/p>\n
Analysts have long noted that the mid-$11,000 level would be an important region of resistance for Bitcoin to break above, as a decisive move above this region could lead the crypto to skyrocket back towards its previously established all-time-highs.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading down marginally at its current price<\/a> of $10,720 and is down slightly from its 24-hour highs of just below $11,000.<\/p>\n Importantly, BTC\u2019s recent price action appears to have elucidated the cryptocurrency\u2019s current levels of support and resistance, as it faced relatively strong resistance around $11,200, before reeling lower and finding support around $10,500.<\/p>\n It is highly likely that these aforementioned levels of support and resistance will persist for the immediate future, and traders will be closely watching to see how BTC reacts to these levels.<\/p>\n The Cryptomist, a popular cryptocurrency analyst on Twitter, spoke about these levels in a recent tweet, noting that the crypto is currently in the process of forming a possible bull flag.<\/p>\n \u201c$BTC: Potential flag formed here. I expect this to break within 12 hours as we already are within apex. Slight bullish div also present. Break upwards would test 11k region once more which also is weekly resistance,\u201d she noted.<\/p><\/blockquote>\n $Btc<\/a><\/p>\n Potential flag formed here Break upwards would test 11k region once more which also is weekly resistance pic.twitter.com\/onYTnn5xtq<\/a><\/p>\n — The Cryptomist (@Thecryptomist) June 23, 2019<\/a><\/p><\/blockquote>\n\n
I expect this to break within 12 hours as we already are within apex
Slight bullish div also present<\/p>\n