Bitcoin second assault on $10,800 failed to yield results paving the way for an ongoing correction towards $10,500 support. Bitcoin requires a catalyst to give it a kick above $11,000 and launch in a trajectory to $12,000. Bitcoin was largely depressed on Wednesday as it retreated from the barrier around $10,800. The bearish price action extended below $10,400. Impressively, a reversal staged during the Asian trading hours on Thursday zoomed above $10,800 but hit brakes at $10,835. At the momentum, BTC is trading at $10,554 while enduring the retreat following the second rejection at $10,800 Meanwhile, Bitcoin’s dominance on the market continues to hit new yearly highs. At 70.8%, Bitcoin effect on the market cannot go unnoticed. The last time Bitcoin’s dominance hit these levels was in March 2017. Bitcoin confluence levels A glance at the confluence detector tool by FXStreet shows Bitcoin hauled between key support and a strong resistance zones. The first resistance at $10,603.74 has an intense concentration of technical levels ranging from the SMA 10 15-mins, Bollinger Band 1-h middle, 38.2% daily, SMA 100 15-mins, previous high 15-mins and the SMA 200 4-hour among others. Bitcoin requires a catalyst to give it a kick above this key resistance for a revisit of the levels above $11,000. Besides, the path is almost clear until the next hurdle at $11,262. Further up, $11,591 will hinder growth towards the $12,000 psychological level. Importantly, the most significant support is placed at $10,494. Converging here are several indicators including the Fibonacci 38.2% 1-min, Fibo 23.6% 1-day and the BB Band 15-mins lower curve. In the event declines progress, $10,274, $10,052 and $9,396 will come in handy to cushion the dips. More confluence levels 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 USD is easing back – Westpac FX Street 4 years Bitcoin second assault on $10,800 failed to yield results paving the way for an ongoing correction towards $10,500 support. Bitcoin requires a catalyst to give it a kick above $11,000 and launch in a trajectory to $12,000. Bitcoin was largely depressed on Wednesday as it retreated from the barrier around $10,800. The bearish price action extended below $10,400. Impressively, a reversal staged during the Asian trading hours on Thursday zoomed above $10,800 but hit brakes at $10,835. At the momentum, BTC is trading at $10,554 while enduring the retreat following the second rejection at $10,800 Meanwhile, Bitcoin's dominance on the… 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.
