You are right, as expected Support for BTC is $11700 levels and short covering on cards upto $17750 levels. At these levels wait for next move , if break up then again touch $20500. And down side will be in Range $17750 -$11300.
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I know in advance that BTC will be in range of $17750 -$11300 till it will not break upward $17750. This BTC hype is big one ,so it will not break down side range of $11300, and will be in Range for few days, and then move upward towards $20500 next range.