The price of Bitcoin breaks $11,000, but a major resistance level at $11,500 has emerged. Since February 2018, the $11,500 level has acted as a crucial resistance level for Bitcoin. Traders also consider a critical resistance level as an area with large selling pressure. First, the Bitcoin market is currently heavily skewed to buyers. That could indicate that whales are not selling BTC yet.

Source: Forbes July 28, 2020 20:37 UTC