• BTC/USD bulls stop short of $5,200.
  • The price is sandwiched between strong support and resistance areas.

Bitcoin (BTC) is hovering under $5,200, mostly unchanged since the beginning of the day. The cryptocurrency market has been rangebound with a bullish bias, recovering from the recent downside correction. However, the upside momentum is not strong enough to take the prices out of the ranges. 

Bitcoin confluence levels

The strongest technical levels are clustered around the current price, which means that the market will have a hard time taking BTC out of the recent range. However, a sustainable break in either direction is likely to create a strong impulse.

Resistance levels

  • A cluster of SMA levels above the current price includes DMA50 4-hour, SMA200 1-hour, DMA10. They are combined with 61.8% Fibo retracement daily and an upper boundary of 4-hour Bollinger Band.
  • The next resistance is seen on approach $5,300. It is created by 38.2% Fibo retracement weekly
  • The critical barrier $5,400 is strengthened by a Pivot Point 1-week Resistance 1 and Pivot Point 1-day Resistance 3.

Support levels 

  • Below the current price, the first support area is created by 38.2% Fibo retracement daily and 61.8% Fibo retracement weekly plus midline of 1-hour Bollinger Band.
  • It is followed by critical $4,700, strengthened by the middle line of 1-day Bollinger Band


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

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bloodbath in the crypto markets as investors realize profits

The cryptocurrency market has painted red on Thursday during the European session as traders and investors have started taking profits. As discussed earlier in the day, a correction was around the corner, mainly due to the cryptocurrency fear and greed index at a record high.

More Cryptocurrencies News

Cardano Price Prediction: ADA must overcome a massive supply barrier to extend a recovery

Cardano (ADA) has climbed to the 8th position in the global cryptocurrency market rating. The coin hit $0.194, the highest level since July 2020, on November 24, before the correction started.

More Cardano News

Greed among cryptocurrency investors soars to the highest level ever recorded

The cryptocurrency market has been on a consistent and remarkable rally since the beginning of November. Most crypto assets are trading at levels not seen since 2017 and early 2018.

More Cryptocurrencies News

Bitcoin price shows four signs of a market top that may lead to a correction towards $13,000

Downside corrections are not something to be fearful of. They are an essential part of a bullish trend, and a sell-off always comes after a strong rally, just like the dusk always comes after the dawn.

More Bitcoin News


Bitcoin Weekly Forecast: BTC makes new yearly highs while its network activity looks worrisome

Bitcoin has lived through the best week since February 2018. The pioneer digital currency price gained over $2,000 in less than seven days. The bullish momentum allowed it to reach a new multi-year high of nearly $18,800, marking November 2020 one of the strongest bullish months ever. 

Read the weekly forecast