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  • BTC/USD bulls struggle at the resistance zone.  
  • An important support is created by $5,000 handle.  

Bitcoin (BTC) is sitting in a tight range after a volatile week. the downside movements are limited by $5,000, while the upside is capped by $5,300 . Despite this sidelined movements, the first digital coin is doing better than the most of major altcoins.  

Bitcoin confluence levels  

There are a lot of strong technical barriers clustered above the current price, which means, Bitcoin bulls might have a hard time building a recovery momentum. The downside is the path of least resistance at this stage.  

Resistance levels  

  • $5,160 – lower boundaries of 1-hour and 4-hour Bollinger Bands, 38.2$ Fibo retracement  daily, 23.6% Fibo retracement weekly;  
  • $5,200 – SMA100 (1-hour), middle line of 1-hour Bollinger Band, 61.8% Fibo retracement daily, DMA5;  
  • $5,250-$2,575 – 161.8% Fibo projection daily, Pivot Point 1-day Resistance 1, DMA10.  

Support levels  

  • $5,000 – lower line of 1-day Bollinger Band, Pivot Point 1-day Support 3.
  • $4,740 – Pivot Point 1-month Resistance 3.  

BTC/USD, 1-day