The U.S Crypto Morning Session – June 11th, 2021

For the Day Ahead

Bitcoin would need to avoid a fall back through the $36,939 pivot to bring the first major resistance level at $38,061 back into play.

Support from the broader market would be needed, however, for Bitcoin to break out from this morning’s high $37,650.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Bitcoin could test resistance at $40,000 before any pullback. The second major resistance level sits at $39,460.

A fall back through to the $36,939 pivot would bring the first major support level at $35,540 into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should steer clear of sub-$35,000 levels.

The second major support level sits at $34.418.

Looking beyond the support and resistance levels, the 50 EMA pulled further away from the 100 and the 200 early on.

More significantly, however, the 100 EMA continued to converge on the 200 EMA.

A bullish cross would bring $40,000 levels and the 38.2% FIB of $41,529 into play.

Failure for the 100 EMA to cross through the 200 EMA would bring $35,000 levels and support levels into play, however.

Read More: The U.S Crypto Morning Session – June 11th, 2021

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