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Bitcoin (BTC) Price Analysis

• Major resistance levels: $10,000, $10,500, $11,000
• Major support levels: $8,000, $7,500, $7,000

Bitcoin has witnessed a significant dump in its valuation as paired with the US dollar’s worth. The pair was initially in a correctional moving mote, after reaching a $10,000 high point on May 7 trading sessions. The main decline occurred yesterday, and a low value around a support area of $8,000, was closely averaged in the falling process.

The bears’ pressures are yet in focus as price trades under a horizontal line of $9,500 mark. The bulls have to re-muster energy from a support level of around $8,000 and a support area of $7,500 mark.