Bitcoin price prediction: BTC/USD bulls set eyes on $5,300 - Confluence Detector

  • BTC/USD bulls need to clear $5,300.
  • The price has been rangebound for several days.

Bitcoin (BTC) topped at $5,360 and has been moving lower ever since. Generally, the price is oscillating in a tight range limited by $5,200 on the downside and $5,300 on the upside

Bitcoin confluence levels

All the strong barriers are clustered below and above the current price, which means that the price is prone to rangebound trading. Meanwhile a confident movement in either direction is likely to become a precondition for the strong movement that will define a short-term trend for BTC.

Resistance levels

  • $5,300- upper boundary of 1-hour Bollinger Band, middle line of 4-hour Bollinger Band, SMA100 and SMA50 1-hour, 61.8% Fibo retracement daily.
  • $5,350-$5,460 - previous week high, upper boundary of 1-hour Bollinger Band, Pivot Point 1-day Resistance 1.
  • $5,400-$5,430 - Pivot Point 1-day Resistance 2, 161.8% Fibo projection daily, 

Support levels 

  • $5,240 - a host of SMA levels, 38.2% Fibo retracement daily, 23.6% Fibo retracement weekly, middle line of 1-hour Bollinger Band
  • $5,200 - 38.2% Fibo retracement weekly, SMA200 1-hour, SMA50, 4-hour
  • $5,050 - 61.8% Fibo retracement weekly, Pivot Point 1-day Support 1.



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.