- BTC/USD is consolidating losses after a strong sell-off.
- The critical resistance is seen on approach to $9,000.
Bitcoin (BTC) has been consolidating losses in Asia after a deadly collapse during late Tuesday hours. The first digital asset is changing hands at $8,484, off the recent low registered at $8,150. BTC/USD has lost nearly 13% of its value in recent 24 hours and stayed unchanged since the beginning of the day.
Read also: Flash-crash on Binance exasperated BNB decline
Bitcoin confluence levels
There are few technical levels both below and above the current price due to sharp movements on the market. However, the bulls may have hard tome pushing the price through the barriers clustered on their way. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.
Resistance levels
$8,500- 23.6% Fibo retracement daily, SMA10 (Simple Moving Average) and SMA5 on 15-min chart;
$9,000 – Pivot Point one-week Support 3, SMA5 four-hour chart;
$9,300 – the lower line of one-day Bollinger Band, SMA10 4-hour.
Support levels
$8,300 – SMA100 daily;
$8,150 – the lowest level of the previous day;
$7,850 – Pivot Point one-day Support 1.
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