Bitcoin price charts hint $11K will likely cause trouble for BTC bulls

While Bitcoin has been showing weakness in recent weeks as BTC price dropped from $12,000 to $10,000, some light at the end of the tunnel is showing up.

The price of Bitcoin showed support at the psychological barrier of $10,000 and bounced numerous times as it's already close to $11,000.

Most importantly, can Bitcoin break through this crucial area and continue its bullish momentum?

Bitcoin holds $10,000 to avoid any further correction on the marketsThe price of Bitcoin couldn't hold above $11,100 at the beginning of September and dropped south, causing the crypto markets to tumble down with it.

As no support zones were established, the price of Bitcoin fell to the $10,000 area within one day.

This $10,000 area is a crucial support area, as it was previously a resistance area, particularly around the time of the Bitcoin halving that occurred in May. But now, flipping this key level for support increases the chances of further upward continuation.

The price of Bitcoin reversed at $10,000 and not at $9,600.

What's more likely is a substantial range-bound period for Bitcoin, which may last for months.

A similar period was seen in the previous market cycle in 2016.A potential scenario for Bitcoin.

The price of Bitcoin may then see a quick rise to the next major resistance zone at $12,100.