Two conditions that will put the bitcoin growth scenario in doubt

Volatility in the crypto market has weakened, although after BTC's recent spurt above $12,000, many traders expected the positive trend to continue.

has returned to the growth phase again, said Michael van de Poppe, an analyst at the Amsterdam Stock Exchange. In his Twitter account, he published a chart of the cryptocurrency, where he pointed out that its price has consolidated above the support level at $11,400 - 11,500. This makes it possible to grow up to $11 900, where resistance has been formed. If it is overcome, the next target will be the mark at $12 200, writes RBC.

Confidence in the growth of bitcoin was also expressed by analyst Josh Rager. According to him, BTC has consolidated above the support level at $11,600, which has acted as resistance since 2018. This is a positive signal, and it speaks in favor of the continuation of the uptrend.

But two conditions will put the growth scenario in doubt. The first is if BTC falls below $10,500 and can't get back up. The second - if the coin drops below $11,500 and stays under this level for more than a week.

Crypto trader dave the wave believes that will remain weak for at least one month. During this time, we will observe the consolidation of BTC. The trader formed his forecast based on historical data. A similar situation was observed in May-July 2020.

In his opinion, over the next four weeks, the largest cryptocurrency will trade in the range of $11,000 to 12,000. After that, bullish sentiment will return and bitcoin will take a new high.

Brave New Coin analyst Josh Olszewicz recently said that the market is approaching a critical point, after which there will be an "explosion" with unpredictable consequences. That is, it will not necessarily be a new rally, but a significant downward pullback may be waiting for us.