- BTC/USD has settled in a range above $7,800.
- The critical resistance is created on approach to $8,150.
Bitcoin (BTC) has stayed marginally above $7,800 after the recovery from the recent low of $7,437; We will need to see a sustainable move above $8,000 to get back to the recovery track; however, the upside momentum is not strong enough at this stage. BTC/USD is mostly unchanged in recent 24 hours. On a weekly basis, BTC/USD is down 9.5%.
Bitcoin confluence levels
Technical levels clustered around the current price mean that the coin is likely to stay rangebound in the nearest future. A strong move in either direction is needed to clarify the technical picture.
$7,900 - the highest level of the previous 4-hour interval, the upper edge of 1-hour Bollinger Band and the top edge of 15-min Bollinger Band.
$8,150 - SMA100 (Simple Moving Average) 1-hour, 23.6% Fibo retracement monthly.
$8,400 - SMA50 (Simple Moving Average) 4-hour, SMA200 1-hour, SMA10 daily.
$7,800 - the lower edge of 15-min Bollinger Band, the lowest level of the previous 4-hour interval.
$7,650 - 38.2% Fibo retracement monthly.
$7,300 - the lower edge of 4-hour Bollinger Band, Pivot Point 1-week Support 2
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.