- BTC/USD is stil capped by $5,300.
- The price is moving in a tight range.
Bitcoin (BTC) has been growing steadily for three consequitive days, but now this bullish trend is under threat. The first digital coin is posed to finish this Friday in a red zone, unless the recovery gains traction towards the end of the day.
Bitcoin confluence levels
BTC/USD is moving within and upside channel with $5,300 as an initial target for Bitcoin bulls. A sustainable move higher is needed for the coin to develop an extended recovery.
- $5,300-$5,350 – 23.6% Fibo retracement weekly and Pivot Point 1-day Resistance 1, 23.6% Fibo retracement daily, 38.2% Fibo retracement weeky, upper boundary of 1-hour Bollinger Band.
- $5,468 – the previous week’s high
- $5,670 – upper boundary of 1-day Bollinger Band, Pivot Point 1-week, Resistance 2
- $5,220-$5,200 – a host of SMA levels, including SMA10 and SMA50 1-hour, SMA10 4-hour, 38.2% Fibo retracement weekly, 61.8% Fibo retracement daily, and a middle line of a 1-hour Bollinger Band and both middle and upper line of 15-min Bollinger Band
- $5,180-$5,140 – SMA100 1-hour, DMA10, DMA5, 161.8% Fibo projection daily
- $4,800 – Pivot Point 1-month Resistance 3