Bitcoin Price Prediction: BTC/USD has clear path till $5,400 – Confluence Detector

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  • BTC/USD is currently trading for $5,234.
  • Daily confluence detector indicates that BTC/USD has clear path till $5,400.

BTC/USD is priced at $5,234 as the markets opened this Thursday. The market has enjoyed bullish sentiment over the last two day and has gone up from $5,030 to $5,230. The daily confluence detector indicates that BTC/USD has clear path till $5,400.

BTC/USD Daily Confluence Detector

The resistance levels lie at $5,260, $5,290, $5,345, and $5,400. The confluences at those levels are:

  • $5,260: Weekly 38.2% Fibonacci retracement level.
  • $5,290: Daily pivot point resistance 1 and 4-hour Bollinger band upper curve.
  • $5,345: Weekly 23.6% Fibonacci retracement level.
  • $5,400: Weekly pivot point resistance 1.

The support levels lie at $5,225, $5,150, and $5,130. The confluences at those levels are:

  • $5,225: Hourly Bollinger band middle curve, SMA 10, 15-min Bollinger band middle curve, and SMA 5.
  • $5,150: Daily 38.2% Fibonacci retracement level and SMA 200.
  • $5,130: Weekly 61.8% Fibonacci retracement level and SMA 100.
     
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