- 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.
$7,400 - 38.2% Fibo retracement daily and weekly, the middle line of 1-hour Bollinger Band, a host of short-term SMA (Simple Moving Average) levels, SMA50 (Simple Moving Average) and SMA100 4-hour, SMA200 1-hour, 23.6$ 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.
$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.