- BTC/USD consolidates below $13,000, the upside is the path of least resistance.
- The strong support awaits BTC bulls on approach to $11,400.
Bitcoin (BTC) is hovering marginally below $13,000 handle. An initial attempt to move above this level during early Asian hours proved to be unsuccessful; however, the coin retains a positive stance and another leg higher looks likely.
Bitcoin confluence levels
At the time of writing, BTC/USD is changing hands at $12,956. Considering that the way to the South is packed with technical levels, the further upside looks like a path of least resistance at this stage. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.
$13,200 – the upper line of Bollinger Band on 1-hour chart and Pivot Point 1-day Resistance 2;
$13,500 – Pivot Point 1-week Resistance 2;
$13,850 – tthe highest level of the previous month;
$14,000 – Pivot Point 1-month Resistance 1.
$12,900 – the upper line of 1-day Bollinger Band, the middle line of 15-min Bollinger Band, a host of short-term SMA levels;
$12,400 – 23.6% Fibo retracement monthly;
$12,250 – Pivot Point 1-day Support 1;
$11,400 – 38.2% Fibo retracement monthly.