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 (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.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.