Search ForexCrunch
  • BTC/USD bulls struggle at the key resistance zone. 
  • Important local support is created by $6,000 level. 

Bitcoin (BTC) has experienced another bout of volatility on Friday. The price of the first digital coin jumped as high as $6,951 before retreating to $6,650 by press time. Despite the correction, BTC/USD is still 17% higher on a day-to-day basis and 7% higher since the beginning of Friday. 

Bitcoin confluence levels 

Obviously, Bitcoin’s recovery is capped by $7,000; however, there are also technical barriers clustered below the current price. The further price movements will depend on general market sentiments as well as technical triggers. Let’s have a closer look at the crucial support and resistance levels

Resistance levels

$7,000 – upper boundary of 15-min Bollinger Bands, 61.8% Fibo retracement  weekly
$7,150 – Pivot Point 1-month Support 2
$7,250 – the middle line of the daily Bollinger Band

Support levels

$6,450 – SMA10 1-hour, the highest level of the previous day
$6,150 – 23.6% Fibo retracement daily
$6,000 – 38.2% Fibo retracement daily.

BTC/USD 1-day

fxsoriginal