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Bitcoin price prediction: BTC/USD attempts a recovery above $9,400  – Bitcoin confluence

  • BTC/USD is recovering from the recent lows, still under pressure.
  • The critical resistance is seen on approach to $9,000.

Bitcoin (BTC) has been range-bound in Asia, consolidating losses after a sharp collapse on September 24. The first digital asset is changing hands marginally above  $8,400, off the recent low registered at $8,150. BTC/USD has lost about 1.2% of its value in recent 24 hours and over 15% on a week-on-week basis.

Read also: Flash-crash on Binance exasperated BNB decline

Bitcoin confluence levels  

A cluster of technical levels both below and above the current price may limit Bitcoin movements in the short run. We will need to see a sustainable move outside the short-term consolidation channel to clarify the technical picture.  Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.

Resistance levels

$8,600 – SMA10 (Simple Moving Average) four-hour chart, the upper line of one-hour Bollinger Band;
$8,750 –  Pivot Point one-day Resistance 1 the highest level of the previous day;
$9,000 –  Pivot Point one-week Support 3, the lower line of one-day Bollinger Band.

Support levels

$8,350 –  23.6% Fibo retracement daily, the lower line of 15-min Bollinger Band, the lowest level of the previous 4 hour interval;
$8,150 – the recent low, Pivot Point one-day, Support 1;
$7,650 – Pivot Point one-day Support 3.

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