- BTC/USD bulls struggle to push the price towards the critical $12,000.
- The local support is created by $11,500, which is the lowest level of the previous week.
Bitcoin (BTC) bottomed at $11,370 on August 22 and resumed the recovery towards $12,000. At the time of writing, the first digital asset is changing hands at $11,800, having gained nearly 2% on a day-to-day basis. While the critical resistance remains unbroken, the upside momentum may gain traction later during the day as the coin is moving within the strong bullish trend amid low volatility.
BTC/USD daily chart
On the intraday charts, the local resistance is created by 1-hour SMA200 marginally above the current price. Once it is out of the way, the upside is likely to gain traction with the next focus on $11,900. This area stopped the recovery on Friday, August 21; a sustainable move above this level will open up the way to the psychological $12,000. On the downside, the first support comes at $11,700-$11,680. This zone served as a local resistance during the weekend; also, it includes 1-hour SMA100.
Bitcoin confluence levels
There are a lot of strong technical barriers clustered above the current price, on approach to $12,000 which means, Bitcoin bulls might have a hard time building a recovery momentum. Meanwhile, several important support levels are likely to limit the downside at this stage. Let’s have a closer look at support and resistance levels for BTC/USD.
Resistance levels
$11,850 — 1-hour SMA200, 4-hour SMA50, daily SMA10, the upper line of the 4-hour Bollinger Band, 38.2% Fibo retracement weekly
$12,200 — the upper line of the daily Bollinger Band, Pivot Point 1-week Resistance 1
$12,500 — the highest level of the previous week
Support levels
$11,700 — the middle line of 1-day Bollinger Band, 23.6% Fibo retracement weekly, 1-hour SMA10
$11,500 — the lower line of the 4-hour Bollinger Band, the lowest level of the previous week, the highest level of the previous month
$11,200 — Pivot Point 1-week Support 1
BTC/USD, 1-day
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Pi Network Price Forecast: A Possible bullish pattern breakout in PI teases trend reversal
Pi Network edges higher at press time on Thursday as it trades in the green for the third consecutive day. The recovery could have been driven by the launch of the new Pi Node version, while the technical outlook shares the possibility of extended gains with a bullish pattern breakout.

Sui Price Forecast: Technical breakout aims for $4.00, supported by TVL growth
Sui extends its breakout above the descending channel and reclaims the 100-day EMA at $3.07 as support. Sui’s DeFi Total Value Locked nears the $2 billion mark, indicating rising investor confidence.

Bitcoin eyes $120,000 as prospects of Fed rate cuts fuel market optimism
Bitcoin price stabilizes around 111,000 on Thursday after hitting a record high of nearly $112,000 the previous day. Fed Minutes spark renewed risk-on sentiment as it showed officials foresee interest rate cuts later this year, boosting momentum across markets.

Crypto Today: Bitcoin's new all-time high reignites risk-on sentiment as Ethereum, XRP bulls increase exposure
Bitcoin could extend its price discovery phase amid renewed risk-on sentiment following its new record high. Ethereum extends gains toward $2,880 critical resistance on the backdrop of rising spot ETF inflows.

Bitcoin: BTC ends Q2 with 30% gains, Standard Chartered eyes $200K by year-end
Bitcoin (BTC) closed a strong second quarter (Q2), recording nearly 30% in quarterly gains amid rising corporate and institutional demand and bullish market sentiment.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.