Bitcoin Price Prediction: BTC/USD pushed back below $7,400 amid uncertainty – Confluence Detector

  • BTC/USD could not keep up with the upside momentum.
  • The critical support level is located right below the current price.

BTC/USD is hovering below $7,400 after despite an attempt to settle at $7,447 ahead of the European opening. The first digital coin has been moving inside a tight range limited by $7,300-$7,430 as the upside momentum fails to gain traction. BTC/USD has gained 2.2% on a day-to-day basis and stayed unchanged since the beginning of the day.

Bitcoin confluence levels 

Looking technically, strong barriers are clustered around the current price. Once the coin is out of the above-mentioned range, the movement in either direction can gain traction. Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.

Resistance levels

$7,400 - 38.2% Fibo retracement daily and weekly, the middle line of 1-hour Bollinger Band, a host of short-term SMA (Simple Moving Average) levels, SMA50 (Simple Moving Average) and SMA100 4-hour, SMA200 1-hour, 23.6$ Fibo retracement daily
$7,700 - 38.2% Fibo retracement monthly, Pivot point 1-day Resistance 2
$7,890 - Pivot Point 1-day Resistance 3, the highest level of the previous week.

Support levels

$7,250 -  the lower line of 1-hour Bollinger Band, a host of short-term SMA levels, SMA50 1-hour
$7,040 - 61.8% Fibo retracement weekly, Pivot Point 1-day Support 2
$6,500 - the lowest level of the previous week and the lowest level of the previous month


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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

ETH ready for a decisive breakthrough, BTC range-bound

BTC/USD hit the intraday high above $11,400 during early Asian hours and retreated to $11,226 by press time. The first digital coin has stayed unchanged on a day-to-day basis and since the beginning of the day, moving within a short-term bullish trend amid low volatility.

More Bitcoin News

All phases of Ethereum 2.0 will positively impact the network – Analyst

The anticipation of Ethereum 2.0 is continuing to rise as the activity on the network is surging. Kelvin Koh, the co-founder of venture capital firm Spartan Group, has recently said that ETH 2.0 will have play a key role in the growth of the network.

More Ethereum News

ETC/USD faces stiff resistance at $7.35

Ethereum Classic (ETC) settled in a range above $7.00 after wild price swings on the weekend. At the time of writing, ETC/USD is changing hands at $7.20, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. 

More Ethereum Classic News

ADA/USD bulls remain in control as price goes up

Cardano successfully launched the Shelley hard fork a few days back and it currently has >620 active stake pools. These pools have a total of 2.74 billion ADA committed to staking. According to ...

More Cardano News


Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast