Tanya Abrosimova
Independent Analyst
- BTC/USD regain control and push the price towards the critical resistance zone.
- The price may retrace inside the Bollinger Band on 1-hour chart.
Bitcoin (BTC) hit the intraday high at $11,944 and retreated to $11,920 by the time of writing. The first digital asset has recovered from the recent bottom of $11,227 hit on August 27 and aimed at $12,000, which is regarded as a critical psychological barrier. BTC/USD has gained over 2% both on a day-to-day basis and since the beginning of the day.
BTC/USD 1-hour chart
-637345441989052067.png)
On the intraday charts, BTC/USD jumped above the upper line of the 1-hour Bollinger Band, which now serves as a local support at $11,850. The price may return inside the Bollinger Band within the technical correction with the next focus on 1-hour SMA50 at $11,660. The RSI on the intraday stays flat on the overbought territory, which is a potential signal for the bearish correction.
Bitcoin confluence levels
The majority of technical barriers are clustered both below the current price, which means the price may be better positioned for further recovery. Let's have a closer look at support and resistance levels for BTC/USD.
Resistance levels
$12,000 - 23.6% Fibo retracement monthly
$12,300 - Pivot Point 1-week Resistance 2
$12,500 - the highest level of the previous month
Support levels
$11,700 - 61.8% Fibo retracement daily, the middle line of the 1-hour Bollinger Band, 38.2% Fibo retracement monthly
$11,500 - 1-hour SMA200, 4-hour SMA50, 61.8% Fibo retracement weekly
$11,000 - daily SMA50
BTC/USD, 1-day
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto fraud soars as high-risk addresses on Ethereum, TRON networks receive $278 billion
The cryptocurrency industry is growing across multiple facets, including tokenized real-world assets, futures and spot ETFs, stablecoins, Artificial Intelligence (AI), and its convergence with blockchain technology, as well as the dynamic decentralized finance (DeFi) sector.
Bitcoin eyes $100,000 amid Arizona Reserve plans, corporate demand, ETF inflows
Bitcoin price is stabilizing around $95,000 at the time of writing on Tuesday, and a breakout suggests a rally toward $100,000. The institutional and corporate demand supports a bullish thesis, as US spot ETFs recorded an inflow of $591.29 million on Monday, continuing the trend since April 17.
Meme coins to watch as Bitcoin price steadies
Bitcoin price hovers around $95,000, supported by continued spot BTC ETFs’ inflows. Trump Official is a key meme coin to watch ahead of a stakeholder dinner to be attended by President Donald Trump. Dogwifhat price is up 47% in April and looks set to post its first positive monthly returns this year.
Cardano Lace Wallet integrates Bitcoin, boosting cross-chain capabilities
Cardano co-founder Charles Hoskinson announced Monday that Bitcoin is integrated into the Lace Wallet, expanding Cardano’s ecosystem and cross-chain capabilities. This integration enables users to manage BTC alongside Cardano assets, providing support for multichain functionality.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.