Bitcoin Price Prediction: BTC/USD close to exploding to $13,000 – Confluence Detector

Bitcoin alongside other cryptocurrencies continues to encounter gruesome days. To many, the largest cryptocurrency has no fighting power left to rise above $10,000. However, there are some analysts who are choosing to remain bullish like the pseudonymous SalsaTekila. The analyst says that Bitcoin is “heading towards $13K mid-term. Massive liquidity pool around 10.5k, price tends to visit those sooner or later.”

Bitcoin technical picture

Bitcoin is trading at $9,168 at the time of writing. On the upside, $9,200 is the initial but key resistance. Note that, recovery from levels explored under $9,000 last week failed to sustain gains above $9,300. More hurdles are expected at $9,400, $9,500 and $9,600.

In addition, the price is trading below the 50-day SMA. Gains above this moving average could eventually catapult Bitcoin above $9,500; a move that could help shift the focus back to $10,000. On the flip side, support is expected at the former pivotal level $9,100. The buyer congestion at $9,100 is also in line to prevent losses into the $8,000’s range. If push comes to shove and BTC/USD spirals towards $8,000, the 200-day SMA ($8,483.35) could come in handy.

Technically, Bitcoin is entering into consolidation according to the RSI. The indicators is currently leveling at 48 after a minor recovery from levels around 40. The MACD also emphasizes that sideways trading would take precedence in the coming sessions. However, the MACD is in the negative region and features a small bearish divergence. In other words, sellers seem to have the upper hand. For now, keeping the price above $9,100 would give the bulls a chance to fight for $9,200.

BTC/USD daily chart

Bitcoin confluence resistance and support areas

Resistance one: $9,212 – This zone is home to the Bollinger Band 1-hour upper, the previous high 4-hour, previous high one-day and the Bollinger Band 4-hour upper.

Resistance two: $9,402 – The seller congestion zone is highlighted by the pivot one-day resistance two, the Bollinger Band one-day middle curve, the Fibo 38.2% one-month and the 100 SMA 4-hour.

Resistance three: 9,688 – This zone hosts the Fibo 23.36% one-month and the pivot one-week resistance one.

Support one: $9,116 – This buyer congestion zone highlights the SMA 200 15-minutes, the Bollinger Band 4-hour middle, the Fibo 61.8% one-day and the SMA ten 4-hour.

Support two: $8,926 – This confluence is formed by the pivot point one-week support one, the pivot point daily support three and the Fibo 61.8% one-month.

Support three: $8,354 – This zone is home to the SMA 200 daily and the pivot point one-month support one.