BTC/USD bulls stopped within a whisker of $9.400. The local support is now created by $9,200. Bitcoin (BTC) resumed the recovery and tested $9,380 during early Asian hours. While the upside momentum faded away on approach to the local resistance of $9,400, the short-term trend remains bullish as long as the price stays above $9,200. this barrier limited the recovery during the previous week, now it has a strong potential as a backstop for the bears. BTC/USD 1-hour chart Also, Bitcoin’s on-chain fundamentals are bullish and point to the increased holding patterns and adoption. The index, calculated by the cryptocurrency research company Glassnode, increased by 1 point, reaching a score of 56 points as the market sentiments improved along with the Network Health. Bitcoin confluence levels BTC/USD is squeezed between strong technical levels, which means the coin may spend some time before another attempt to develop a directional move. While a breakthrough above $9,200 is a positive short-term signal, the technical picture remains uncertain at this stage as there are quite a few barriers both above and below the current price. Let’s have a closer look at the support and resistance areas. Resistance levels $9,300 – 23.6% Fibo retracement daily, the middle line of the 1-hour and daily Bollinger Bands, the highest level of the previous week $9,500 – Pivot Point 1-week Resistance 1, Pivot Point 1-day Resistance 2 $9,800 – 61.8% Fibo retracement monthly Support levels $9,150 – 38.2% Fibo retracement weekly, 1-hour SMA100 and SMA200, 4-hour SMA50 $9,000 – the lower line of the daily Bollinger Band, the lowest level of the previous day $8,500 – Pivot Point 1-month Support 1, Pivot Point 1-week Support 2. BTC/USD, 1-day FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EU Commission: Severe risks to the economic outlook, tilted to the downside FX Street 3 years BTC/USD bulls stopped within a whisker of $9.400. The local support is now created by $9,200. Bitcoin (BTC) resumed the recovery and tested $9,380 during early Asian hours. While the upside momentum faded away on approach to the local resistance of $9,400, the short-term trend remains bullish as long as the price stays above $9,200. this barrier limited the recovery during the previous week, now it has a strong potential as a backstop for the bears. BTC/USD 1-hour chart Also, Bitcoin's on-chain fundamentals are bullish and point to the increased holding patterns and adoption. The index, calculated by the cryptocurrency… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
