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Bitcoin price prediction: BTC/USD gets ready to a big journey to the North  - Bitcoin confluence

  • BTC/USD managed to settle above $11,000 amid steady recovery on Tuesday
  • The next critical resistance awaits BTC bulls at $11,500.
Bitcoin price prediction: BTC/USD gets ready to a big journey to the North  - Bitcoin confluence
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

Bitcoin (BTC) has resumed the upside and touched $11,340 during Asian hours on Tuesday.  The first digital currency has gained over 4% since this time on Monday and grew by 3% since the beginning of the day.

Bitcoin confluence levels 

The path to the South is riddled with strong technical levels, while the upside movement promises to be nice and easy once the critical resistance $11,500 is out of the way. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.

Resistance levels

$11,450 - Pivot Point 1-month Resistance 2, Pivot Point 1-day Resistance 2.
$11,800 Pivot Point 1-day Resistance 3.
$12,150 - Pivot Point 1-week Resistance 3.

Support levels

$11,150 - Pivot Point 1-week Resistance 2, the highest level of the previous 4-hour interval and SMA5 (Simple Moving Average) 1-hour.
$10,950 -  38.2% Fibo retracement daily, SMA10 4-hour.
$10,700 - Pivot Point 1-week Resistance 1, the lower line of 1-hour Bollinger Band.
$10,400 - Pivot Point 1-day Support 2, the middle line of 4-hour Bollinger Band.

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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