Bitcoin price prediction: BTC/USD capped by $5,200 - Confluence Detector

Bitcoin (BTC) is hovering under $5,100, mostly unchanged since the beginning of the day. The first digital coin lost 1.5% since this time on Monday and stayed mostly unchanged since the beginning of the day. The cryptocurrency market slipped in the red zone after a short-lived recovery attempt; however, all major coins are still sitting in their respective ranges. 

Bitcoin confluence levels

The strongest technical levels are clustered above the current price, which means that the recovery looks like a hard task at this stage. 

• Resistance levels
• A cluster of SMA levels above the current price includesSMA 200, SMA100 and SMA50 1-hour, SMA50 4-hour, and a host of short-term SMA levels. The initial resistance area goes all the way up to $5,200. It is packed with strong technical levels: middle lines of 1-hour and 4-hour Bollinger Bands, 61.8% Fibo retracement weekly and  61.8% Fibo retracement daily
• The next resistance is seen on approach $5,360. It is created by 23.6% Fibo retracement weekly and 161.8% Fibo projection daily.
• The critical barrier $5,400 is strengthened by a Pivot Point 1-week Resistance 1 and Pivot Point 1-day Resistance 3 and followed by the previous week high at $5,468.

Support levels 

• Below the current price, the first support area is created by SMA100 4-hour on approach to $3,900.
• It is followed by critical $4,700, strengthened by Pivot Point 1-month Resistance 3