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  • BTC/USD bulls struggle to keep the price above $5,300.  
  • An important support is created by $5,200 handle.  

Bitcoin (BTC) has slipped under $5,300 amid technical correction after a strong growth on Tuesday.  While the upside potential is fading away, the first digital coin is well positioned for further recover as long as it stays above $5,200 handle.  

Bitcoin confluence levels  

There are a lot of strong technical barriers clustered below the current price, which means, that Bitcoin bears are under a disadvantage. The support area starts right  below the current price and goes all the way down to $5,200.  

Resistance levels  

  • $5,370-$5,400 – upper boundaries of 1-hour and 4-hour Bollinger Bands, SMA10 1-hour, Pivot Point 1-day Resistance 1;  
  • $5,630-$5,650 – previous week high and previous month high;  
  • $5,900 –  Point 1-month Resistance 1,  Point 1-week Resistance 1;  

Support levels  

  • $5,300-$5,200 – middle line of 1-day Bollinger Band,  38.2% Fibo retracement  daily, 23.6% Fibo retracement daily;  38.2% Fibo retracement  weekly, 23.6% Fibo retracement monthly, DMA10, SMA200 1-hour, SMA100 4-hour,  middle line of 1-hour Bollinger Band;  
  • $5,050 – SMA200 4-hour, 38.2% Fibo retracement monthly, 161.8% Fibo projection;  
  • $5,000 – Pivot Point 1-day Resistance 3 followed by the previous week low.  

BTC/USD, 1-day