Bitcoin price seems to be moving towards the $11k mark. However, traders shouldn't be too forward as the $11k and $11,389 zones are resistances that have prevented the price from rising in the past few weeks.
According to analysts, investors feel neutral concerning the market situation. Although it's quite challenging to measure the precision of the indicator, the price, and volume of BTC has been flat having the price remains fixed between $9,900-$11,200 marks.
Based on the daily chart, the price of bitcoin has fluctuated between the trendlines of the symmetrical triangle, and if this continues, traders will expect a decisive move in the next few weeks.
If the price falls from the triangle, the VPVR indicates a buy interest from $9,950 to $9,200. After evaluating the 3rd of September to the 10th of September, bulls keep buying below $10,000.
Based on the analysis, investors are holding on for BTC price to take a decisive step over the $11,500 or below $9,800 level before getting active in the market.
Source: Cointelegraph.
