- BTC/USD is hovering around $11,000 amid range-bound trading on Monday.
- The next critical resistance awaits BTC bulls on approach to $11,450.
Bitcoin (BTC) has been hovering around $11,000 handle during early Asian hours, down over 8% in recent 24 hours. Friday’s recovery attempt proved to be short-lived as the cryptocurrency market resumed the decline during the weekend. The first digital asset hit $10,610 before new buyers popped in and stopped the sell-off.
Bitcoin confluence levels
BTC/USD is sandwiched between strong technical levels located both below and above the current price, which means that the market might need an additional stimulus to gain momentum in either direction. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.
Resistance levels
$11,000 – 23.6% Fibo retracement daily, the middle line of 15-min Bollinger Band.
$11,450 – 38.2% Fibo retracement monthly, SMA10 (Simple Moving Average), 4-hour.
$11,700 – SMA100 1-hour, 61.8% Fibo retracement weekly.
Support levels
$10,600 – the lower line of 4-hour Bollinger Band, the lowest level of the previous 24 hours.
$10,300 – the lowest level of the previous week.
$10,000 – the middle line of -day Bollinger Band.
$9,900 – 61.8% Fibo retracement monthly.
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