BTC/USD is currently hovering at $10,963 and it is important to note that the impasse reached between bulls and bears also comes amidst weakness in the traditional markets, which may spill over into crypto and create a headwind that could make it difficult for the Bitcoin to surge higher. After weeks of trading inside the $10,000 range, Bitcoin once again touches the daily high at $11,044, making it the second time that the coin would be breaking the $11k hurdles since the beginning of this month.

Meanwhile, retracing below $11,000 at the moment means that BTC/USD may still need to overcome it decisively if it’s to continue the recent run and head towards the next resistance lines at $11,600, $11,800, and $12,000. Alternatively, if the current rejection sends the Bitcoin price further south, the critical support levels lie at $10,400, followed by $10,200, and $10,000 respectively. The RSI (14) is seen roaming around 50-level, suggesting a sideways movement.

Reference by: Azeez Mustapha