FX.co ★ BTC analysis for August 11,.2020 - Watch for potential breakout of the contraction of Bollinger bands

Further Development

Analyzing the current trading chart, I found that the BTC is in contraction and sideways mode between the resistance at $12,050 and support at the price of $11,580.

I would watch for the breakout of support or resistance to confirm further direction.

The upside breakout of resistance at $12,050 can lead us to test $12,500

The downside breakout of the support at $11,582 can lead us to the test of $11,150

Key Lvels:

Pivot support: $11,580

Resistance level: $12,050