• BTC/USD is stil capped by $5,300.
  • The price is moving in a tight range.

Bitcoin (BTC) has been growing steadily for three consequitive days, but now this bullish trend is under threat. The first digital coin is posed to finish this Friday in a red zone, unless the recovery gains traction towards the end of the day.

Bitcoin confluence levels

BTC/USD is moving within and upside channel with $5,300 as an initial target for Bitcoin bulls. A sustainable move higher is needed for the coin to develop an extended recovery.

Resistance levels

  • $5,300-$5,350  -  23.6% Fibo retracement weekly and Pivot Point 1-day Resistance 1,  23.6% Fibo retracement daily, 38.2% Fibo retracement weeky, upper boundary of 1-hour Bollinger Band.
  • $5,468 - the previous week's high 
  • $5,670 - upper boundary of 1-day Bollinger Band, Pivot Point 1-week, Resistance 2

Support levels 

  • $5,220-$5,200 - a host of SMA levels, including SMA10 and SMA50 1-hour, SMA10 4-hour, 38.2% Fibo retracement weekly, 61.8% Fibo retracement daily, and a middle line of a 1-hour Bollinger Band and both middle and upper line of 15-min Bollinger Band
  • $5,180-$5,140 - SMA100 1-hour, DMA10, DMA5, 161.8% Fibo projection daily
  •  $4,800 - Pivot Point 1-month Resistance 3

BTC/USD 1D 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC bulls may hit a brick wall on approach to $9,800

Bitcoin (BTC) extended the recovery to trade at $9,750 at the time of writing. The first digital asset bottomed at $9,300 on February 19 amid massive sell-off and managed to regain some ground since that time. 

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Cardano launched hardfork OBFT; ADA/USD extends the recovery

Cardano (ADA), now the 11th largest digital asset with the current market value of $1.5 billion, has gained 2.7% in recent 24 hours to trade at $0.0590 at the time of writing.

More Cardano News

BCH/USD sprints to $380 amid development tax disagreements

Bitcoin Cash explored the region at $350 as I discussed in the previous article. However, the bulls quickly entered the market ready to buy low and push the price upwards. BCH/USD is already in the green ...

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP