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BTC/USD technical target $6,800 after rising without making any noise

Cryptocurrencies have turned quiet for a change, demonstrating the lowest volatility since early 2017. The calm is not necessarily bad for bulls, as Bitcoin trades above $6,600. What’s next? The digital coin is well supported and may be ready for the next leg higher.

The  Technical Confluence Indicator  shows that the BTC/USD is currently trading amid a significant cluster of levels around $6,627. The list includes the Pivot Point one-day Resistance 1, the Simple Moving Average 5-one-hour, the SMA 50-1d, the Bollinger Band 15m-Middle, the Bollinger Band 4h-Upper, and the Fibonacci 38.2% one-month.

If Bitcoin breaks higher, it faces a hurdle at $6,710  where we see the Pivot Point one-day R3. The target is $6,800  which is the confluence of the Pivot Point one-week Resistance 2, last month’s high, the SMA 100-one-day, and the BB 1d-Upper.

Looking down, there is very strong support at $6,550  which is a dense cluster consisting of the Fibonacci 38.2% one-week, the SMA 200-15m, the SMA 50-1h, the SMA 100-1h, the Fibonacci 38.2% one-day, the BB 4h-Middle, the BB 1d-Middle, the SMA 10-4h, the SMA 10-1d, the SMA 100-15m, the SMA 100-4h, the SMA 50-4h, the SMA 5-1d, the SMA 200-1h, and the Fibonacci 61.8% one-day. It would take substantial downside momentum to see Bitcoin break down below this level.

“‹”‹”‹”‹”‹”‹Click to see the Full Confluence Indicator

Here is how it looks on the tool:

BTC USD confluence October 9 2018

The Confluence Detector finds  exciting opportunities using Technical Confluences.  The TC is a tool to locate and point out those price levels where there is a  congestion of indicators,  moving averages,  Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.


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This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence  adjacents  price levels. These weightings mean that one  price level without any indicator  or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas.

Learn more about Technical Confluence

More:  Latest cryptocurrency news

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.