- BTC/USD is hovering above $10,100, off the intraday low.
- The critical resistance is seen on approach to $10,700.
Bitcoin (BTC) came close to critical $10,000 and recovered towards $10,150 by the time of writing. Despite the recovery, the first cryptocurrency stays under pressure as the upside momentum remains weak. BTC/USD has been rangebound with bearish bias since Monday.
Bitcoin confluence levels
There are some strong technical levels clustered both above and below the current price. It means that we might need to wait for a new catalyst before the price chooses a direction.
Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.
Resistance levels
$10,250 – the middle line of 4-hour Bollinger Band, the upper line of 1-hour Bollinger Band, 61.8% Fibo retracement weekly, SMA100 (Simple Moving Average) 1-hour;
$10,400 – SMA10 daily, Pivot POit 1-day Resistance 1;
$10,700 – psychological level, 23.6% Fibo retracement weekly, 38.2% Fibo retracement monthly, the middle line of 1-day Bollinger Band
Support levels
$10,000 – SMA100 daily, 23.6% Fibo retracement monthly;
$9,800 – Pivot Point 1-week Support 1;
$9,150 – the lower line of 1-day Bollinger Band.
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