BTC/USD: Bulls hit back as the path to $4,000 opens up again – Confluence detector

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  • BTC/USD bulls crawled the price up from $3,898 to $3,902 this Friday
  • No strong resistance ahead as BTC/USD bulls will try to get the price past $4,000.

BTC/USD bulls crawled the price up from $3,898 to $3,902. While the momentum seems sluggish, the daily confluence detector shows little to no resistance ahead. The path to $4,000 may have open up.

BTC/USD daily confluence detector

Resistance levels lie at $3,910 and $3,940. Confluences at those levels are:

  • $3,910: Hourly Bollinger band middle curve, 15-min previous high, daily 61.8% Fibonacci retracement level, 4-hour Bollinger band middle curve, and 100-day simple moving average (SMA 100) 
  • $3,940: Daily 38.2%Fibonacci retracement level and SMA 100

Support levels are at $3,900 and $3,815. Confluences at those levels are:

  • $3,900: 15-min previous low, hourly previous high, monthly pivot point resistance 1, SMA 5, 4-hour previous high, and daily Bollinger band upper curve
  • $3,815: Monthly 61.8% Fibonacci retracement level.
     
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