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BTC/USD Recovers Above $11,000 After Dropping by 26%

The bulls need to push the BTC/USD pair to clear the $11,450 level if they wish the Satoshi Nakamoto coin to go on an upward movement to close the week.


Bitcoin (BTC) ran out of steam Thursday when it failed to keep its price above the $13,000 level. Within 24 hours, the BTC/USD pair dropped by as much as $3,000.

The good news, though, is that BTC is poised to continue trading above $11,000. The pair currently trades at $11,496.80, with a seven-percent change in the past 24 hours.

Bitcoin (BTC) Price Chart June 28

FX Street reported that the next critical resistance is at $11,450, noting the following resistance and support levels:

Resistance Levels

  • $11,450 – 38.2% Fibo retracement daily, Pivot Point 1-month Resistance 2
  • $11,700 – SMA100 1-hour
  • $12,150 – SMA10, 4-hour, Pivot Point 1-week Resistance 3

Support Levels

  • $11,000 – SMA10 (Simple Moving Average) 1-hour, 23.6% Fibo retracement daily.
  • $11,200 Pivot Point 1-week Resistance 2, the highest level of the previous week$10,700 – Pivot Point 1-week Resistance 1.
  • $10,350 – the lower line of 4-hour Bollinger Band.

Meanwhile, altcons like Ripple (XRP) and Ethereum (ETH) slowly recover. The XRP/USD pair trades at $0.4114, while the ETH/USD pair at $301.19, at press time.

| RELATED: Bitcoin May Reach at Least $30k, Analysts Say

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