- Bitcoin plunges back to last week’s levels over $11,000 after climbing to brand new 2020 highs.
- BTC/USD is confronting intense resistance at $10,400 despite having supported support at $11,200.
Bitcoin weekend actions was tremendous this weekend. Along with remaining over $11,000, the most significant cryptocurrency has for the first time this season traded over $12,000. A new annual high was attained at $12,158 (on Bitfinex) prior to a change took effect.
After the change, BTC/USD is trading in $11,286 amid rising bearish momentum. The RSI’s downhill activity puts focus on the downtrend. A slip beneath the 70 (overbought) will be very likely to grow the escape with Bitcoin resting support at $11,200.
Together with the help conformed at $11,200, BTC/USD remains handling the important seller zone at $11,400. This exact key level to see because it’d provide the bulls a push into another resistance at $11,650. Glancing up, $11,800 is just another immunity that’s been in the film since March 2018. Additionally, the emotional level of $12,000 – $12,100 which appears to be the brand new 2020 high will stay in the sight glass.
BTC/USD 1-hour graph