Bitcoin price prediction: BTC/USD bulls yearning for higher consolidation above $10,500 – Confluence Detector

Bitcoin managed to stay in the green on Friday ahead of the weekend session. The new month has been kind on Bitcoin as well as the entire crypto market. BTC/USD not only smashed through $10,000 hurdle but also explored the highs above $10,500. In spite of the magnificent recovery, $10,600 remains unconquered, let alone the milestone at $11,000.

A glance at the confluence detector tool shows Bitcoin’s first resistance at $10,597. The confluence is created by several indicators ranging from the previous high 15-mins, previous high 4-hour, Bollinger Band 15-mins upper and the previous high 1-hour. Marginally above this level lies the second resistance at $10,706 (seller congestion zone). The various indicators at this level include the BB 4-hour upper, Pivot Point 1-week R1, BB 1-hour upper and the PP 1-Day R1. Trading above this zone will see Bitcoin enjoy a smooth ride towards $11,000 and other higher levels.

On the downside, Bitcoin is well supported starting with the medium-strong support at $10,378 (buyers’ congestion zone). The level is highlighted BB 1-hour middle, SMA 5 4-hour, Fibonacci 61.8% 1-week, SMA 100 15-mins, and Fib 23.6% 1-Day. In addition to that, $10,268 is in line to prevent declines above the significant support at $10,158. The strongest support for Bitcoin lies at $9,829.