- BTC/USD stays under $8,800 after a steady growth on the weekend.
- The critical support is created on approach to $8,100.
Bitcoin (BTC) has recovered from an intraday low of $8,600, though it is still capped by $8,800. The intraday volatility is growing, but the first cryptocurrency is still locked in a recent range, waiting for a fresh catalyst to make another assault at $9,000.
Bitcoin confluence levels
There are a lot of technical barriers both above and below the current price, which means the Bitcoin can spend some time in the range, consolidating recent gains. The recovery looks complicated as long as the price stays under $9,100. Once it is cleared, the upside is likely to gain traction.
$8,870 – 61.8% Fibo retracement daily, the middle line of 15-min Bollinger Band, Simple Moving Average (SMA)50 15-min.
$9,950 – 23.6% Fibo retracement daily, Pivot Point week-1 Resistance-2
$9,100 – Pivot Point day-1 Resistance-3
$8,680 – Pivot Point day-1 Support-1
$8,300 – SMA5, daily, SMA100, 1-hour
$8,100 – 23.6% Fibo retracement weekly, SMA100 1-hour, SMA50 4-hour