Bitcoin price prediction: BTC/USD consolidates gains - Bitcoin confluence

BTC/USD has entered a range-bound phase after steady growth.
The critical support is created on approach to $7,950.

Tanya Abrosimova Independent Analyst

Bitcoin (BTC) extended the weekend gains and hit a new high of 2019 marginally below $9,000. While at this stage, the upside momentum has faded away, the long-term trend remains positive.

Bitcoin confluence levels

There are a lot of significant technical barriers clustered below the current price, which makes life harder form Bitcoin bears. Above the current price, we have an uncharted territory with rare technical hurdles, once $9,000 is cleared.

Resistance levels

$8,900 - Pivot Point 1-week Resistance 2.
$9,100 - upper boundary of 1-day Bollinger Band
$9,500 - Pivot Point week-1 Resistance-3

Support levels

$8,400 - 38.2% Fibo retracement daily, Pivot Point 1-week Resistance 3.
$8,100 - SMA5, daily, SMA100, 1-hour, 23.6% Fibo retracement weekly
$7,950 - 38.2% Fibo retracement weekly, SMA10 daily

Author

Tanya Abrosimova

Independent Analyst

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