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  • BTC/USD managed to recover, but $7,000 stays unbroken.
  • Bulls may have a hard time pushing the price higher.  

BTC/USD is on a recovery path. The first digital coin managed to claw back the ground to trade at $6,900. While the pivotal resistance $7,000 remains unbroken, the positive trend helped to mitigate the initial pressure and improve the short-term technical picture. At the time of writing, BTC/USD is mostly unchanged since the beginning of Monday and down 5% on a day-to-day basis.

Bitcoin confluence levels  

Looking technically, there are a lot of barriers clustered above the current price, which means further upside may be limited. Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.

Resistance levels

$7,050-$7,100 – 38.2% Fibo retracement daily, the lower line of the daily  Bollinger Band, SMA50 (Simple Moving Average) 1-hour
$7,250 – the upper line of 1-hour Bollinger Band, 23.6% Fibo retracement weekly, Pivot Point 1-week Resistance 1
$7,500 – 38.2% Fibo retracement weekly, Pivot Point 1-week Resistance 2

Support levels

$6,750 – Pivot Point 1-day Support 1, SMA50 15-min, the middle line of 15-min Bollinger Band
$6,500 – Pivot Point 1-week Support 1, the lower line of 1-hour Bollinger Band
$6,250 – Pivot Point 1-day Support 3.