Bitcoin technical analysis: BTC/USD critical daily trend line prevents devastation for now

Bitcoin price is trading down some 11% in the second half of the session on Friday.
BTC/USD price action via the daily chart view is testing a critical daily trend line to the downside.
The noted support can be seen tracking around $11,000 price mark.

Ken Chigbo Independent Analyst

Spot rate: 11,682.06

Relative change: +2.95%

High: 11,785.39

Low: 11,085.27

BTC/USD

Overview
Today last price	11686.03
Today Daily Change	340.12
Today Daily Change %	3.00
Today daily open	11345.91

Trends
Daily SMA20	11490.14
Daily SMA50	9659.22
Daily SMA100	7758.01
Daily SMA200	5758.57

Levels
Previous Daily High	12098.98
Previous Daily Low	10968.34
Previous Weekly High	12198.8
Previous Weekly Low	9657.13
Previous Monthly High	13862.09
Previous Monthly Low	7437.33
Daily Fibonacci 38.2%	11400.24
Daily Fibonacci 61.8%	11667.07
Daily Pivot Point S1	10843.17
Daily Pivot Point S2	10340.43
Daily Pivot Point S3	9712.53
Daily Pivot Point R1	11973.81
Daily Pivot Point R2	12601.72
Daily Pivot Point R3	13104.46

BTC/USD 60-minute chart

Upside is capped by a barrier running from $11,600-800 range via the 60-minute.

BTC/USD daily chart

Daily ascending trend line stops the bears from causing a chunky wave of selling pressure.

Author

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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BTC/USD

BTC/USD 60-minute chart

BTC/USD daily chart

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