BTC/USD Price Prediction: Market has minimal scope of growth - Confluence Detector
|- The BTC/USD market opened at $3,855 this Friday.
- The price is in between strong levels of resistance and support so growth potential is minimal.
The BTC/USD market opened at $3,855 this Friday. Don’t expect any drastic growth as the price is sandwiched between extremely strong levels of resistance and support, as per the daily confluence detector. The price will not move away from the $3,850 range any time soon.
BTC/USD daily confluence detector
BTC/USD daily confluence detector shows resistance levels at $3,885, $3,930, and $4,200. The confluences at those levels are:
- $3,885: 15-min Bollinger band upper curve, 100-day simple moving average (SMA 100), 15-min previous high, hourly previous high, 4-hour previous high, daily 38.2% Fibonacci retracement level, hourly Bollinger band upper curve, SMA 10, SMA 5, monthly 38.2% Fibonacci retracement level, SMA 50, SMA 200, and daily 23.6% Fibonacci retracement level.
- $3,930: Daily previous high, daily pivot point resistance 1, and previous week high.
- $4,200: Weekly pivot point resistance 3 and previous monthly high.
BTC/USD has support levels at $3,834-$3,874, $3,775, and $3,614-$3,714. The confluences at those levels are:
- $3,834-$3,874: Daily Bollinger band middle curve, hourly Bollinger band lower curve, 4-hour Bolinger band middle curve, 4-hour previous high, SMA 5, SMA 10, 15-min Bolinger band lower curve, hourly Bollinger band middle curve, SMA 100, SMA 50, SMA 200, hourly previous low, 15-min previous low,weekly 23.6% Fibonacci retracement level, weekly 38.2% Fibonacci retracement level, 4-hour Bollinger band lower curve, and daily 61.8% Fibonacci retracement level.
- $3,775: Weekly 61.8% Fibonacci retracement level.
- $3,614-$3,714: Weekly pivot point support 3, SMA 50, SMA 100, daily Bollinger band lower curve, monthly 61.8% Fibonacci retracement level, and previous week low.
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