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  • BTC/USD bulls push the price towards $5,400  
  • Upside is the path of least resistance.  

Bitcoin (BTC) has been extending the recovery from the recent lows with the upside momentum gaining traction ahead of European hours. At the time of writing, BTC/USD is changing hands at $5,363, 1.4% higher from this time on Wednesday.  

Bitcoin confluence levels  

There are a numerous strong technical barriers located below the current price. It means, that Bitcoin is well supported and has a good upside potential. The support area starts right    below the current price and goes all the way down to $5,200.  

Resistance levels  

  • $$5,400 – upper boundaries of 1-hour and 15 min Bollinger Bands, 38.2% Fibo retracement    daily, 23.6%    Fibo retracement    daily;  
  • $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  

  • $5,350 – 61.2%  Fibo retracement    daily,  middle line of 1-hour Bollinger Band;  
  • $5,260-$5,200 – middle line of 1-day Bollinger Band, 38.2% Fibo retracement    weekly, 161.8% Fibo projection daily, DMA5, SMA200 1-hour, SMA100 1-hour, SMA50 4-hour;
  • $5,050 – 38.2% Fibo retracement monthly;  
  • $5,000 – lower line of 1-day Bollinger Band.  

BTC/USD, 1-day