Bitcoin Price Prediction: BTC/USD bounce to $10,000 in the offing – Confluence Detector


  • Bitcoin price holds above $9,200, extending the consolidation from the weekend session.
  • Bitcoin upside limited at $9,296 (confluence detector initial resistance).

Bitcoin has been lethargic in its trading since the recovery from the slide in the last week of June that tested support at $8,800. The previous week’s attempts to push Bitcoin above $9,500 lost traction at $9,481 with a trendline resistance standing strongly in the way. The just-concluded weekend session remained in consolidation with gains above $9,300 being unsustainable.

BTC/USD has already retreated to $9,272 (prevailing market value). The technical picture printed by indicators such as RSI and MACD is drab and mainly supporting sideways trading. The RSI is moving sidelong at 54 in turn highlighting the possibility of consolidation lasting longer in the course of the new week.

The MACD also reflects the same sideways trading action as the RSI. For some time now, the indicator has been clinging to the midline. Both the RSI present opportunities for traders to watch out on the direction Bitcoin price is likely to take in the coming sessions.

Generally, the ongoing consolidation could last longer as described above. Support is anticipated at $9,200, $9,000 and $8,800 as well as at the moving averages (the 50 SMA at $9,247.37 and the 100 SMA at $9,184.65 in the 4-hour range).

Related content: Tezos Price Forecast: XTZ/USD majestically rises to take down $3.00 resistance

BTC/USD 4-hour chart

BTC/USD price chart

Bitcoin confluence resistance and support areas

Resistance one: $9,296 – The confluence detector in the 4-hour range highlights this as the first significant resistance where the Fibonacci 38.2% one-day, the SMA five 15-minutes, the previous high 15-minutes and the Bollinger Band 15-minutes middle curve among other indicators converge.

Resistance two: $9,347 – This region is home to the previous high 4-hour, the Fibonacci 23.6% one-week and the previous high one-day.

Support one: $9,244 – The Bollinger Band one-day middle, the Fibonacci 61.8% one-day, the Bollinger Band 4-hour middle, the SMA 200 1-hour, SMA ten one-day and SMA 50 4-hour meet.

Support two: $9,140 – Is home to the Bollinger Band 4-hour lower curve, the previous low one-day and the Fibonacci 61.8% one-week.

More Bitcoin levels 

BTC/USD

Overview
Today last price 9272.85
Today Daily Change -30.29
Today Daily Change % -0.33
Today daily open 9303.14
 
Trends
Daily SMA20 9222.84
Daily SMA50 9378.35
Daily SMA100 8785.82
Daily SMA200 8471.64
 
Levels
Previous Daily High 9345.09
Previous Daily Low 9159.86
Previous Weekly High 9475.54
Previous Weekly Low 8907.51
Previous Monthly High 10404.88
Previous Monthly Low 8823.34
Daily Fibonacci 38.2% 9274.33
Daily Fibonacci 61.8% 9230.62
Daily Pivot Point S1 9193.64
Daily Pivot Point S2 9084.14
Daily Pivot Point S3 9008.42
Daily Pivot Point R1 9378.86
Daily Pivot Point R2 9454.58
Daily Pivot Point R3 9564.08

 

 


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction

SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction

The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.

More TRON News

XRP fails to break past $0.50, posting 20% weekly losses

XRP fails to break past $0.50, posting 20% weekly losses

XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22. 

More Ripple News

ImmutableX extends recovery despite $69 million IMX token unlock

ImmutableX extends recovery despite $69 million IMX token unlock

ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19. 

More Cryptocurrencies News

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in

Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

More Bitcoin News

Bitcoin: BTC post-halving rally could be partially priced in Premium

Bitcoin: BTC post-halving rally could be partially priced in

Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

Read full analysis

BTC

ETH

XRP