Search ForexCrunch
  • BTC/USD consolidates gains, stays below $12,000 handle.
  • The critical support awaits BTC bulls on approach to $11,450.

Bitcoin (BTC) has been creeping higher recently. The first digital coin attempted a break above $12,000 during early Asian hours before retracing towards $11,700. A sustainable move above $11,000 handle is a good sign that may eventually translate into a stronger growth into the end of the week. BTC has gained over 4% in recent 24 hours, though it is still down 2% since the beginning of Thursday.

Bitcoin confluence levels  

At the time of writing, BTC/USD is changing hands at $11,716. Considering a lot of technical levels clustered both above and below the current price, BTC/USD, may spend some time in a range. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.

Resistance levels

$12,100 – the upper line of Bollinger Band, on 1-hour and 4-hour charts.
$12,450 – 23.6% Fibo retracement monthly, Pivot Point 1-day Resistance 1.
$13,000 –  23.6% Fibo retracement weekly, the upper line of 1-day Bollinger Band.

Support levels

$11,650 – the lower line of 15-min Bollinger Band, 23.6% Fibo retracement weekly, the lowest level of the previous hour.
$11,450 – 38.2% Fibo retracement monthly, SMA10 4-hour, SMA100 4-hour
$10,400 – Pivot Point 1-day Support 1, Pivot Point 1-week Support 1.