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  • BTC/USD settled above $7,000.
  • Some rangebound trading ahead before the growth is resumed.

Bitcoin (BTC) has recovered from the intraday low of $6,866 towards $7,050 by the time of writing. The price has calmed down after a volatile weekend. While the technical correction looks likely, the coin is still moving within the strong upside trend.

Bitcoin confluence levels  

There are a lot of strong technical barriers clustered both above and below the current price, which means, Bitcoin may stay in a range for sometime before the growth is resumed.

Resistance levels

  • $7,150 – the highest level of the previous 4 hours, the previous 1-hour high, SMA10 4-hour and SMA5 15-min.
  • $7,300 – 61.8% Fibo retracement daily;
  • $7,500-$7,550 – Pivot Point 1-month Resistance 3, Pivot point 1-week Resistance 3.

Support levels

  • $7,000 – Pivot Point 1-week Resistance 2.
  • $6,750 – the middle line of 4-hour Bollinger Band, the lowest level of the previous day.
  • $6,550 – Pivot Point 1-month Resistance 2.

BTC/USD, 1-day