- BTC/USD has been trending sideways for the last nine days.
- Daily confluence detector shows that the price is sandwiched between a strong line of resistance and a strong line of support.
BTC/USD has been trending sideways for the last nine days with the bulls and bears effectively canceling each other out. The daily confluence detector shows that the price is sandwiched between a strong line of resistance ($3,435) and support ($3,425).
BTC/USD daily confluence detector
The three strong lines of resistance are at $3,435, $3,455, and $3,530. The confluences in those levels are as follows:
- $3,435: Hourly previous high, 15 min previous high, weekly 38.2% Fibonacci retracement level, 15 min Bollinger band upper curve, 5-day simple moving average (SMA 5), 4-hour previous high, Hourly Bollinger band upper curve.
- $3,455: SMA 10, 4-hour Bollinger band upper curve.
- $3,530: Monthly 23.6% Fibonacci retracement level.
The three lines of support are as follows: $3,425, $3,400, and $3,350. The confluences on those levels are as follows:
- $3,425: SMA 50, SMA 10, 4-hour previous low, SMA 200, SMA 100, and SMA 5.
- $3,400: 4-hour Bollinger band lower curve, Weekly 23.6% Fibonacci retracement level, and daily previous low.
- $3,350: Previous month low and previous week low.
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