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  • BTC/USD is consolidating above $8,000, the further upside is limited.
  • The critical resistance is seen on approach to $8,300.

Bitcoin (BTC) has been range-bound, with a short-term bullish bias. BTC/USD attempted a recovery above $8,200, but the upside seems to be limited at this stage.  At the time of writing, BTC/USD is changing hands at $8,100, having gained 1.8% on a day-on-day basis.

Bitcoin confluence levels  

Bitcoin bulls may have a hard time pushing Bitcoin price higher as a cluster of technical levels block their way to the North. We will need to see a sustainable move above $8,300 for the upside to gain traction, while the downside looks like a path of least resistance. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.

Resistance levels

$8,300 – the upper line of one-hour Bollinger Band, the lower line of daily Bollinger Band, 23.6% Fibo retracement weekly;
$8,600 –  Pivot Point one-day Resistance 2. Pivot Point one-month Support 1 the upper line of four-hour Bollinger Band
$8,700 –  38.2% Fibo retracement weekly.

Support levels

$7,850 –  the lower line of four-hour Bollinger Band;
$7,750 – the lowest level of the previous week;
$7,400 – Pivot Point one-month Support 2.

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