Bitcoin price prediction: BTC/USD recovery stalled on approach to $10,350 - Bitcoin confluence
|- BTC/USD is consolidating gains after a recovery above $10,000
- The critical resistance is seen on approach to $10,350.
Bitcoin (BTC) recovered from Thursday’s low and returned to the range of the previous days. At the time of writing, BTC/USD is hovering around $10,200 with a short-term bearish bias. The coin has gained about 3% in recent 24 hours and stayed unchanged since the beginning of the day.
Bitcoin confluence levels
There are quite a number of technical levels clustered both above and below the current price. It means that the coin may continue oscillating in a tight range, while a sustainable breakthrough in either direction might create strong momentum.
Resistance levels
$10,200 - SMA200 (Simple Moving Average) on one-hour and four-hour charts, SMA50 four-hour, SMA10 one-hour, SMA5 daily 23.6% Fibo retracement daily;
$10,350 - 61.8% Fibo retracement weekly the middle line of daily Bollinger Band, SMA10 daily.;
$10,450 - the upper lines of four-hour and one-hour Bollinger Bands.
Support levels
$10,000 - 32.8% Fibo retracement weekly, the middle line of one-hour Bollinger Band, 38.2% Fibo retracement daily;
$9,800 - the lower line of four-hour Bollinger Band;
$9,350 - Pivot point one-week Support 2, Pivot point one-day Support 2.
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