Bitcoin Suddenly Dropped by $500 Revealed Strong Support Down There Instead

Bitcoin has found the new strong support level around $11,400- $11,600 accidentally by dropping $500 in seconds. The candlestick in the 1H chart shows that Bitcoin rallied rapidly after slumped at the level around $11,450 from $11,999 and closed at $11,686. It is a significant bullish sign for Bitcoin particularly when it happened in seconds only. Additionally, there is an ascending asymmetric triangle pattern that shows that Bitcoin is waiting to outbreak the main resistance level at $12,000.

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