- BTC/USD is hovering above $11,000 amid the recovery pattern.
- The next critical support awaits BTC bulls on approach to $11,500.
Bitcoin (BTC) recovered from the recent lows and settled well below $11,000 handle; however, the bull bumped into a brick wall on the approach to $11,500 as the upside momentum has faded away. The first digital coin has gained nearly 10% in recent 24 hours, breaking-off four-day long decline.
Bitcoin confluence levels
At the time of writing, BTC/USD is changing hands at $11,250. Despite the recovery from the recent low of $9,657, the bulls failed to take the price above $11,500 handle. Let's have a closer look at the barriers that might influence Bitcoin's movements in the short run.
$11,300 - Pivot Point 1-day Resistance 1 SMA5 (Simple Moving Average) daily, SMA10 1-hour.
$11,450 - 38.2% Fibo retracement monthly, SMA10 daily.
$11,700 - 61.8% Fibo retracement weekly, the upper line of 15-min Bollinger Band.
$10,750 - SMA100 15-min.
$10,300 - the lowest level of the previous week, the middle line of 1-day Bollinger Band.
$9,900 - 61.8% Fibo retracement monthly.
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.