Bitcoin price prediction: BTC/USD consolidates gains – Bitcoin confluence
Crypto News

Bitcoin price prediction: BTC/USD consolidates gains – Bitcoin confluence

  • BTC/USD has entered a range-bound phase after  steady growth.
  • The critical support is created on approach to $7,950.

Bitcoin (BTC) extended the weekend gains and hit a new high of 2019 marginally below $9,000. While at this stage, the upside momentum has faded away, the long-term trend remains positive.

Bitcoin confluence levels  

There are a lot of significant technical barriers clustered below the current price, which makes life harder form Bitcoin bears. Above the current price, we have an uncharted territory with rare technical hurdles, once $9,000 is cleared.

Resistance levels

$8,900 – Pivot Point 1-week Resistance 2.
$9,100 – upper boundary of 1-day Bollinger Band
$9,500 – Pivot Point week-1 Resistance-3

Support levels

$8,400 – 38.2% Fibo retracement daily,  Pivot Point 1-week Resistance 3.
$8,100 – SMA5, daily, SMA100, 1-hour, 23.6% Fibo retracement weekly
$7,950 – 38.2% Fibo retracement weekly, SMA10 daily

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.