Bitcoin must clear the strong resistance at $8,281 in order to revive movement towards $9,000. Bitcoin settled in a narrow range with the upside capped at $8,300 and the downside protected around $8,200. Bitcoin led the market in a brief recovery staged on Sunday during the American session. The momentum saw Bitcoin reclaim the ground it had lost above $8,000. The leg up touched $8,300 but failed to advance towards $8,400. Meanwhile, Bitcoin is settling in a narrow range between $8,200 support and $8,300 resistance. The granddaddy of cryptocurrencies is up 3.42% in the last 24 hours. In the same period, $15 billion in volume has been exchanged across cryptocurrency exchanges. Bitcoin has a market of $148 billion which commands a 66.7% dominance. More: Bitcoin price analysis: BTC/USD brushes shoulders with $8,300, where to next? Bitcoin confluence levels The unique confluence detector tool places the initial resistance at $8,281. The resistance in this zone emanates from a cluster of indicators including the ten Simple Moving Average (SMA) 15-minutes, the previous high 15-mins, previous high one-hour, the Bollinger Band 15-minutes upper and the previous high four-hour. Although the above zone is the strongest resistance at the moment, the movement above it will come face to face with the medium resistance at $8,538. On the brighter side, trading above $8,538 is likely to pave the way for gains above $9,000. On the flip side, support is quite limited. Although, $8,195 will try to hold in the event a reversal occurs towards $8,000. Some of the indicators here are the SMA ten one-day, SMA 100 four-hour, SMA 50 four-hour and Fibonacci 38.25% one-day. More confluence levels 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 USD/CHF technical analysis: 0.9900/10 challenges recovery from 61.8% Fibo. FX Street 3 years Bitcoin must clear the strong resistance at $8,281 in order to revive movement towards $9,000. Bitcoin settled in a narrow range with the upside capped at $8,300 and the downside protected around $8,200. Bitcoin led the market in a brief recovery staged on Sunday during the American session. The momentum saw Bitcoin reclaim the ground it had lost above $8,000. The leg up touched $8,300 but failed to advance towards $8,400. Meanwhile, Bitcoin is settling in a narrow range between $8,200 support and $8,300 resistance. The granddaddy of cryptocurrencies is up 3.42% in the last 24 hours. In the same… 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.
