Bitcoin confluence levels
There are some strong technical levels both above and below the current price, which confirms the range-bound theory. However, considering a highly volatile market, another wild move in either direction should not be excluded.
Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.
$11,900 - 61.8% Fibo retracement daily, SMA50 (Simple Moving Average) 15-min, SMA10 4-hour;
$12,000 - psychological level, the upper line of 1-hour Bollinger Band
$12,500 - Pivot Point 1-month Resistance 1
$11,700 - 61.8% Fibo retracement monthly, SMA5 daily.
$11,100- $11,00 - Pivot Point 1-week Resistance 1;
$10,700 - 38.2% Fibo retracement monthly.