Bitcoin price prediction: BTC/USD bulls licking wounds, recovering above $11,000  - Bitcoin confluence

  • BTC/USD is hovering above $11,000 amid range-bound trading on Friday.
  • The next critical resistance awaits BTC bulls at $11,450.

Bitcoin (BTC) has been range-bound during early Asian hours as the bulls are licking wounds after a dramatic collapse that took place on Thursday and made the coin $3000 cheaper in less than 24 hours. The sell-off may gain traction into the end of the working week. At the time of writing, BTC/USD is changing hands at $11,300.

Bitcoin confluence levels 

There are a lot of strong technical levels both above and below the current price, which confirms the range-bound theory. However, considering a highly volatile market, another wild move in either direction should not be excluded. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.

Resistance levels

$11,450 - 38.2% Fibo retracement daily, Pivot Point 1-month Resistance 2

$11,700 - SMA100 1-hour

$12,150 - SMA10, 4-hour, Pivot Point 1-week Resistance 3

Support levels

$11,000 - SMA10 (Simple Moving Average) 1-hour, 23.6% Fibo retracement daily
$11,200 Pivot Point 1-week Resistance 2, the highest level of the previous week$10,700 - Pivot Point 1-week Resistance 1.
$10,350 - the lower line of 4-hour Bollinger Band.

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: BTC/USD hunting for a breakout

Bitcoin upward movement continues to be limited under the 23.6% Fib retracement level we discussed earlier today. A shallow recovery from the recent deep is unable to sustain gains above $8,300. For now, the price is likely to remain pivotal at $8,300. 

More Bitcoin News

Ripple price prediction: XRP/USD breaks free from triangle pattern - XRP confluence

Ripple’s XRP broke free from the long-term triangle pattern and hit $0.2860 during early Asian hours. The now the third-largest digital asset with the current market value of $12.2 billion has gained nearly 4% in recent 24 hours and became one of the best ...

More Ripple News

TRON price analysis: TRX/USD moves within a long-term bearish trend

At the time of writing, TRX/USD is changing hands at $0.0160. The coin has gained over 15% in seven 24 days, however, the upside momentum started fading away after the price had hit $0.0175 high. 

More Tron News

Cryptocurrency market update: Bulls swinging into action

The weekend session was slow and lethargic. Cryptocurrencies across the board pushed for consolidation at lower levels than the ones witnessed last week. The situation is slightly different on Monday at the beginning of the European.

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC bulls trapped below SMA200 daily

Bitcoin bulls have had a short glimpse of victory only to suffer a bitter disappointment this week.

Read the weekly forecast