• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Crypto Market Structure Bill: Senate Sources Indicate Draft Release As Soon As Tomorrow
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Market Structure Bill: Senate Sources Indicate Draft Release As Soon As Tomorrow
litecoin price trading

Bitcoin Price Analysis: BTC Looks To Break $11,000 Support

Smith
by Smith
Last Updated: August 12, 2019 2:04 pm
·
Posted in Trading, Bitcoin, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A recent break-down out of the asymmetrical triangle mentioned in my previous BTC analysis looks poised to continue down to support levels below $11,000. Bitcoin price levels hold above $11,000 for now but the low volume could cause this support to break.


Bitcoin Price 4-Hour Analysis

xbt4h

On the 4 hour chart for XBT/USD, we can see the break-down of the asymmetrical triangle mentioned. Speculation that the triangle was indeed a bullish pennant has now been clearly rejected. A break-down of the rising support line was also broken at the same point around $11,700. Since then price levels have been hovering above $11,000 support, the short-term sentiment will largely be determined by whether $11,000 holds or not.

RSI hit oversold flashing a buy signal and has since bounced, heading back for the median 50.0. Volume was rising steadily throughout the build-up to $12,000 and has now started a clear decline. Given that the volume has dropped quite significantly in the last week alone, the price action has managed to hold fairly strong. This could be a sign of weakness from bears. Volume levels will need to pick up within the next few days in order to see any continuation of the short-term bullish trend.

1-Hour Analysis

xbtusd

On the 1 hour chart for XBT/USD, we can see the clear break-down of both the rising support and asymmetrical triangle. Price levels since dropped to around $11,100 and have begun a small uptrend indicating selling momentum has come to a halt. 200 EMA can be seen moving completely sideways as it touches the 20 SMMA and 50 MA. This is a sign of consolidation happening again ahead of a big move for Bitcoin.

There are conflicting bullish and bearish indications as this period of short-term consolidation unfolds. I expected to see bears remain convincingly in control of the market price action after the break-down but this has yet to play out. Bitcoin volume remains low and will be the main indication to look out for to determine where price action could be heading.

POC (Point of Control) sitting back at the break-down point around $11,700 sits as the main resistance point. If price levels begin another bullish trend here and surpass the POC mentioned then it’s highly likely price levels will continue to create a new visible range high around $12,400 and above.

Adversely, if price levels make a new visible range low breaking down below $11,000 and holding a sensible support zone to look out for is between $9,800 and $10,170. This support zone visible on the 4-hour analysis provided.

Do you think BTC will hold $11,000 over the coming days? Please leave your thoughts in the comments below!

This article is strictly for educational purposes and should not be construed as financial advice.


Images via Shutterstock, Bitcoin trading charts by Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Smith

Smith

Follow

Full Profile

Related Posts

Strategy przeniosło 2.45 mld usd

Firma Strategy przeniosła 2.45 mld USD w Bitcoinach do nowych portfeli. Likwidacja czy restrukturyzacja? 

6 hours ago
Saylor

Strategy’s Saylor Says It’s Not The Time To Buy Rivals – Details

7 hours ago
Биткоин

Институциональные инвесторы ускоряют перераспределение биткоина

7 hours ago
trump токен

Меме токенът TRUMP поскъпва след понижения на лихвите. $MAXI може да е следващият голям хит сред меме койните

11 hours ago
Bitcoin ส่องสว่างสร้างสะพานเชื่อมไปยังตึกของสถาบันการเงิน สะท้อนถึงการลงทุนใน Altcoin ที่กำลังจะตามมา

ตามรอย Bitcoin! Altcoin ETF จ่อเปิดประตูรับเงินสถาบัน

12 hours ago
CZ

CZ Vs. Warren: Crypto King Threatens To Take US Senator To Court

13 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • What XRP Tundra Means for the Future of XRP in the DeFi Ecosystem

    What XRP Tundra Means for the Future of XRP in the...

    9 hours ago
  • kcex-trading-showdown-bonus-review-tw

    ...

    11 hours ago
  • trump токен

    Меме токенът TRUMP поскъпва след...

    11 hours ago
  • Czhang on How LBank Is Using AI and 100x Tokens to Shape...

    13 hours ago
  • Is Staking Crypto Worth It? XRP Tundra Presale Offers 12% APY

    Is Staking Crypto Worth It? XRP Tundra Presale Offers 12%...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.