Tanya Abrosimova
Independent Analyst
- BTC/USD managed to move above critical $9,000 and settled above $9,100.
- The next critical resistance awaits BTC bulls at $9,400.
Bitcoin (BTC) has settled above $9,100 after a strong rally on Sunday. A sustainable move above critical $9,000 has improved the technical picture, though, at this stage, the first digital coin may enter a consolidation phase. The bulls need to take a breath before another leg higher.
Bitcoin confluence levels
Now that the strong line of resistance gave way, the recovery may gain traction. Moreover, there are are only a few technical barriers located above the current price, which means that further growth is the path of least resistance for the market
Resistance levels
$9,300 - 23.6% Fibo retracement daily, the upper line of 1-hour Bollinger Band, the upper line of 15-min Bollinger Band.
$9,400 - upper line of 4-hour Bollinger Band, followed by the highest level of the previous day.
$10,000 - Pivot Point 1-month Resistance 1.
Support levels
$9,100 - Pivot Point 1-week Resistance 1, the highest level of the previous month, SMA10 (Simple Moving Average) on the 1-hour timeframe, SMA50 on 15-min chart.
$8,800 - the middle line of 4-hour Bollinger Band, Pivot Point 1-day Support 1.
$8,450 - Pivot Point 1-day Support 2, 161.8% Fibo projection.
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