Bitcoin price prediction: BTC/USD cautiously creeps above $9,300 - Bitcoin confluence
|- BTC/USD managed to settle above $9,300 amid steady recovery on Thursday.
- The next critical resistance awaits BTC bulls at $9,550.
Bitcoin (BTC) is hovering at $9,300, off the intraday high of $9,364. The first digital currency is range-bound with bullish bias during early Asian hours; however, the recovery may gain traction once the European session kicks in.
Bitcoin confluence levels
There are a few technical levels clustered around the current price, which means that the coin is likely to oscillate in a tight range in the short run. Meanwhile, the upside looks like the path of least resistance.
Resistance levels
$9,350-$9,380 - the upper line of 1-hour Bollinger Band, the upper line of 15-min Bollinger Band, the highest level of the previous hour, the highest level of the previous 4-hour interval.
$9,550 - Pivot Point 1-week Resistance 2, Pivot Point 1-day Resistance 2.
$10,000 - Pivot Point 1-month Resistance 1.
Support levels
$9,200 - middle lines of 1-hour and 4-hour Bollinger Bands, 38.2% Fibo retracement daily.
$9,100 - Pivot Point 1-week Resistance 1, the highest level of the previous month, Pivot Point 1-day, Support 1,
$8,750 - SMA200 (Simple Moving Average) 1-hour.
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