- BTC/USD hit the brick wall at $4,000.
- The support zone goes down to $3,800.
Bitcoin (BTC) is paralyzed at $4,000. The first cryptocurrency struggles below the key barrier that has been limiting the recovery since the beginning of the week. At the time of writing, BTC/USD is changing hands at $3,992.
BTC/USD the daily confluence detector
The resistance zone is located above the current price and includes 161.8% Fibo projection weekly, upper boundaries of 1-hour and 15-min Bollinger bands.
Once it is cleared, the upside may be extended towards $4,200.
Below the current price, the strong support is created by a host of SMA levels, 23.6% Fibo retracement levels on a daily and a monthly charts, as well as 38.2% Fibo retracement daily and a number of Bollinger band boundaries (midline on 1-hour and 15-min charts, upper line on 4-hour chart).
The way to the South is packed with technical barriers that go all the way down to $3,800. Once below, the sell-off may gain traction thin the next focus at $3,650 guarded by 61.8% Fibo retracement monthly.
BTC/USD, 1D
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