Bitcoin edges closer to another test of 11,300

Following an earlier update on Bitcoin this morning, the price has now dropped below 11,350 and is under fresh downside pressure. The move lower comes as the whole global equity space does not look too clever right now. That is leading Bitcoin ever closer to another test of that noted 11,300 support level. It is highly likely that if that is breached now, then further immediate downside will ensue. That is never guaranteed of course, but the current chart dynamic makes it look likely. As noted here previously, much will also depend on how the wider markets are trading at the time, as well as what stops and fresh system based selling might kick in below 11,300. Bitcoin is just now trading at 11,335