Bitcoin Price Prediction: BTC/USD must hurdle above $5500-600 for big moves north – Confluence Detector
|- Bitcoin price on Friday in the second part of the session is holding modest gains of some 3%.
- BTC/USD bulls must breakdown the range of $5500-600 for a chunky wave of buying pressure.
Bitcoin’s price on Friday in the second half of the session is trading in positive territory, up some 3%. BTC/USD bulls are using the $5000 price mark as comfort area now, which could prove to be the new bottom zone.
BTC/USD next major challenge is eyed at the $5500-600 range, firstly however the bulls must breakdown the high print of 3rd April up at around $5350. A push above should invite a fresh wave of buying pressure.
Looking via the daily confluence detector, firstly the barriers of resistance; $5085.06. daily pivot point resistance. $5189.20, daily pivot point resistance $5273.72, To the downside; $4980.91, 61.8% daily Fibonacci, $4928.38 38.2% Fibonacci.
BTC/USD daily confluence detector
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.