- Bitcoin has recently started to make a move below $11379.28 after it traced a bullish trend line
- BTC couldn’t clear resistance above $11400, pulled back even below $11330
- The coin seems to have a support at $11311, carries a selling pressure
- Bitcoin is currently below its 5-day SMA of $11416.14
Bitcoin has recently faced strong rejection above $11400 against U.S.Dollar and the coin is again trading around $11350. Also, it is to be seen how the major altcoins including XRP and ETH react to this price slump.
Bitcoin was at $11347.25 around 4 hours ago, and it soared as high as $11400 from there. The coin then pulled back to $11327 and continued to head downwards. BTC has even hit the bottom at $11311.25 with a decline of $0.78%. Finding a support there, the coin then rebounded to $11379.28 with a surge of 0.60%.
The coin has corrected down from there and is at $11346.60 at 11:10:53 UTC.
BTC/USD Price Chart
Bitcoin’s current price is higher than its 100-day SMA of $10768.11. Though the coin is 0.60% lower than its 5-day SMA of $11416.14. Bitcoin manifests a mild bearish vibe at the moment.
Bitcoin Price Prediction & Technical Indicators:
The MACD chart of BTC/USD is in bearish zone while having its MACD line below its Signal line. RSI for the coin is near 30, showing oversold momentum. Bitcoin may face resistance at $11,615.34 and $11,707.11 and support level at $11,340.05 and $11,156.53.