Bitcoin price prediction: BTC/USD stays range-bound, waiting for new triggers - Bitcoin confluence

BTC/USD consolidates in the middle of $10,000-$9,000 range.
The strong resistance awaits BTC bulls on approach to $10,000.

Tanya Abrosimova Independent Analyst

Bitcoin (BTС) sits in a tight range limited by $9,550 on the downside and $9,650 on the upside. A collapse towards $9,119 low on Sunday proved to be short-lived and, potentially triggered by some positioning on crypto derivatives exchange BitMEX.

However, as the upside momentum remains weak, BTC is vulnerable to further losses during the day, unless the upper boundary of the above-said consolidation channel is taken out.

Bitcoin confluence levels

The market has calmed down as bulls are not happy with Bitcoin sitting under $10,000, and bears are not strong enough to take out $9,000.

The downside looks less crowded, though there are several significant support levels on the way to the South.

Let's have a closer look at the barriers that might influence Bitcoin's movements in the short run.

Resistance levels

$9,650 - the middle and the upper lines of 15-min Bollinger Band, the middle line of 4-hour Bollinger Band and the upper line of 1-hour Bollinger Band;
$10,000 - psychological barrier, SMA200 on 1-hour chart, SMA50 4-hour chart, Pivot Point day 1 Resistance 2, 38.2% Fibo retracement weekly;
$10,400 - SMA50 daily, 61.8% Fibo retracement weekly.

Support levels

$9,550 - 23.6% Fibo retracement daily, SMA10 4-hour, SMA100 15-min;
$9,300 - Pivot Point 1-week Support 1, 61.8% Fibo retracement daily;
$9,000 - psychological level.
$8,800 - Pivot Point 1-week Support 2, the lower line of 1-day Bollinger Band.