Bitcoin price dropped below 12,000 today!
Luckily, Bitcoin perfectly holds 11,600 a key support in lower time frame.
It also bounces back at 11,800 level.
Now
What If Bitcoin fails to break and hold 12,000 again?
It is probable that Bitcoin will fall at 10,000-10,500 price range.
Based on the chart, this price range is a resistance which became a support for Bitcoin.
50 MA is inside the said price range.
It indicates that it is also a good support for Bitcoin if it breaks the 20 MA.
Happy Trading!
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