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Bitcoin technical analysis: BTC/USD $11,000 barrier must be broken or sellers will likely punish again

  • Bitcoin price on Friday is trading in the green, up some 3.10%. 
  • BTC/USD will need to break down a big barrier seen at $11,000 in order to achieve a greater upside. 
  • A decent wave of buying came into play as the price broke out of the recent range, which was capped at $10,200 to the upside.
Bitcoin technical analysis: BTC/USD $11,000 barrier must be broken or sellers will likely punish again
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 10,400.15

Relative change:      +3.10%

High:                         10,433,57    

Low:                          10,043.89    

BTC/USD

Overview
Today last price10430.32
Today Daily Change318.60
Today Daily Change %3.15
Today daily open10111.72
 
Trends
Daily SMA2010953.51
Daily SMA5010738.02
Daily SMA1009895.49
Daily SMA2007202.23
Levels
Previous Daily High10234.99
Previous Daily Low9757.33
Previous Weekly High11583.86
Previous Weekly Low9469.79
Previous Monthly High13195.19
Previous Monthly Low9080.79
Daily Fibonacci 38.2%9939.8
Daily Fibonacci 61.8%10052.52
Daily Pivot Point S19834.37
Daily Pivot Point S29557.02
Daily Pivot Point S39356.71
Daily Pivot Point R110312.03
Daily Pivot Point R210512.34
Daily Pivot Point R310789.69

BTC/USD daily chart

  • Price action is being supported to the upside by an ascending trend line. Big barrier eyed at the $11,000 mark.

BTC/USD 60-minute chart

  • The bulls saw a breakout from recent range which was capped at $10,200.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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