Bitcoin price prediction: BTC/USD bulls get ready for revenge - Bitcoin confluence

  • BTC/USD consolidates above $11,000 after a strong sell-off.
  • The strong support awaits BTC bulls on approach to $11,000.

Bitcoin (BTC) has recovered from the recent lows to trade at $11,550 by press time. However, the first digital asset is controlled by bears as a strong move below $12,000 handle worsened the short-term technical picture. From the longer-term perspective, the coin is moving within a wide range, consolidating gains after a strong upside movement from December 2018 lows.

Bitcoin confluence levels 

There are a lot of important technical levels both above and below the current price, which means that we may spend some time in a range ahead of another upside wave. Let's have a closer look at the barriers that might influence Bitcoin's movements in the short run.

Resistance levels

$11,600 - SMA100 (Simple Moving Average) on 4-hour chart, SMA10 daily, the middle line of 15-min Bollinger Band;
$12,000 - 23.6% Fibo retracement daily;
$12,350 - the middle line of 4-hour Bollinger Band, Pivot Point 1-week Resistance 1, 23.6% Fibo retracement monthly, 38.2% Fibo retracement daily.

Support levels

$11,500 - the middle line of 1-day Bollinger Band, 38.2% Fibo retracement monthly;
$11,000 - psychological level;
$10,600 - 38.2% Fibo retracement weekly, Pivot Point 1-day Support 1.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast