Bitcoin plunges back to last week’s levels above $11,000 after rising to new 2020 highs. BTC/USD is facing acute resistance at $10,400 despite having confirmed support at $11,200. Bitcoin weekend action has been tremendous this weekend. In addition to staying above $11,000, the largest cryptocurrency has for the first time this year traded above $12,000. A new yearly high was reached at $12,158 (on Bitfinex) before a reversal took effect. Following the reversal, BTC/USD is trading at $11,286 amid growing bearish momentum. The RSI’s downward action puts emphasis on the downtrend. A slide under the 70 (overbought) is likely to increase the retreat with Bitcoin resting support at $11,200. With the support conformed at $11,200, BTC/USD is still dealing with the key seller zone at $11,400. This very key level to watch as it would give the bulls a push to the next resistance at $11,650. Glancing further up, $11,800 is another resistance that has been in the picture since March 2018. In addition, the psychological level of $12,000 – $12,100 which happens to be the new 2020 high will remain in the sight glass. BTC/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ripple Market Update: XRP/USD explodes to $0.3250 FX Street 3 years Bitcoin plunges back to last week’s levels above $11,000 after rising to new 2020 highs. BTC/USD is facing acute resistance at $10,400 despite having confirmed support at $11,200. Bitcoin weekend action has been tremendous this weekend. In addition to staying above $11,000, the largest cryptocurrency has for the first time this year traded above $12,000. A new yearly high was reached at $12,158 (on Bitfinex) before a reversal took effect. Following the reversal, BTC/USD is trading at $11,286 amid growing bearish momentum. The RSI’s downward action puts emphasis on the downtrend. A slide under the 70 (overbought) is likely to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
