Bitcoin -Locating below $11,000 remains relevant

After a strong rally, BTC was below $ 11,000 and $10,800. However, the level of $10,400 acted as a decent support, and the minimum level was formed at the level of $ 10,363.
The price is currently moving higher, and BTC is trading at around $10,700. It is above the Fibonacci retracement level of 23.6% of the recent correction, from a maximum of $11,234 dollars to a minimum of $10,363 dollars. However, it seems that levels of $10,800 and $10,950 currently are the obstacles.

The Fibonacci retracement level of 50% of the recent correction from a maximum of $11,234 to a minimum of $10,363 also impedes growth. If there is a successful break above $10,950 and a subsequent rise above $11,000, the price is likely to resume its uptrend. The following key resistances are $11,200 and $11,500. If the price of Bitcoin continues to grow, it may even test a key level of $12,000 in the near future.
On the other hand, there is a lot of support around $10,500. In addition, on the 4-hour chart of the BTC/USD pair, a key bullish trend line is being formed with support around $10,550. If bitcoin falls below the trend line, it can return to support levels of $10,200 and $10,000.