- BTC/USD consolidates under $11,000 with a bullish bias.
- The next critical resistance awaits BTC bulls at $11,450.
Bitcoin confluence levels
There are quite a number of technical indicators clustered both above and below the current price, which means we are in for range-bound trading in the short run. Let’s see what might stop further recovery or provide support in case of the sell-off.
$11,000 – this psychological barrier is strengthened by the upper line of 1-hour Bollinger Band and 38.2% Fibo retracement daily.
$11,450 – Pivot Point 1-month Resistance 2.
$12,150 – Pivot Point 1-week Resistance 3.
$10,750 – SMA50 (Simple Moving Average) 1-hour, middle line of 1-hour Bollinger Band and 61.8% Fibo retracement daily.
$10,400 – Pivot Point 1-day Support 1, the middle line of 4-hour Bollinger Band.
$10,000 – 161.8% Fibo projection daily, Pivot Point 1-month Resistance 1.