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

Bitcoin price prediction: All eyes on the $8,530 support line as BTC/USD sinks

BTC/USD is on course for charting three bearish days in a row. The sellers dropped the price of BTC/USD from $8,764.45 to $8,631.70 this Thursday. So far this Friday, BTC/USD has fallen further to $8,601.15.

More Bitcoin News

Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

More Cryptocurrencies News

ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP