Bitcoin Price Prediction: Bulls to test $5,400 resistance level
|- BTC/USD is trading for $5,317 as markets opened this Thursday.
- Healthy support levels support BTC/USD.
BTC/USD is trading for $5,317 as markets opened this Thursday. Bulls have a clear path to $5,400. If they can overcome that, the daily confluence detector shows us that they can push the price up to $5,500. BTC/USD also enjoyed bullish sessions on Tuesday and Wednesday, wherein the price went up from $5,150 to $5,315.
BTC/USD Daily Confluence Detector
As per the daily confluence detector, the resistance levels are at $5,400 and
$5,500. The confluences at those levels are:
- $5,400: Weekly 61.8% Fibonacci retracement level and daily pivot point resistance 2.
- $5,500: Daily Bollinger band upper curve and daily pivot point resistance 3.
The price is well supported at $5,260-$5,275, $5,230, and $5,130. The confluences at those levels are:
- $5,260-$5,275: SMA 100, SMA 200, SMA 20, and monthly 23.6% Fibonacci retracement level.
- $5,230: Weekly 38.2% Fibonacci retracement level and daily 38.2% Fibonacci retracement level.
- $5,130: Weekly 23.6% Fibonacci retracement level and daily previous low.
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