Tanya Abrosimova
Independent Analyst
- BTC/USD consolidates in the middle of $10,000-$11,000 range.
- The strong resistance awaits BTC bulls on approach to $11,450.
Bitcoin (BTС) is changing hands marginally below $10,500. The first digital coin has lost over 1% since the beginning of the day and stayed unchanged from this time on Sunday. The price attempted to break above $11,000 on the weekend, but the momentum proved to be unsustainable as of yet.
Bitcoin confluence levels
The Bitcoin (BTC) price is sidelined at this stage; however, the path to the North seems to be more difficult due to the strong resistance area located right above the current price.
Let's have a closer look at the barriers that might influence Bitcoin's movements in the short run.
Resistance levels
$10,600 - the resistance area goes up to $10,750, it includes the middle line of 4-hour Bollinger Band and the middle line of 1-hour Bollinger Band, 61.8% Fibo retracement weekly, 61.8% Fibo retracement daily.
$11,100 - the upper line of 4-hour Bollinger Band;
$11,450 - 23.6% Fibo retracement monthly
Support levels
$10,400 - the lower line of 1-hour Bollinger Band, SMA50 (Simple Moving Average) 4-hour, SMA100 1-hour;
$10,000 - psychological level, 38.2% Fibo retracement weekly
$9,650 - 23.6% Fibo retracement weekly;
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
TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1
TRON, a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report. TRON noted gains across several metrics like market capitalization, revenue and total value locked.
XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launch
XRP is hovering near $0.53 on Friday, spending nearly all week below $0.55. Ripple CTO David Schwartz addressed concerns on stablecoin and XRP utility on Thursday.
Terraform Labs set to restrict access for users in the US after recent ruling in SEC lawsuit
Blockchain company Terraform Labs said Thursday that it will restrict access to some of its products and services for US-based users as it expects to receive a court order soon in light of its legal battle against the US Securities and Exchange Commission (SEC).
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?