Bitcoin price prediction: BTC/USD struggles to stay above $9,200 – Confluence Detector

Bitcoin (BTC) has recovered from the intraday low of $9,127; however, the upside is limited by $9,300. At the time of writing, BTC/USD is changing hands at at $9,250, mostly unchanged both on a day-to-day basis and since the beginning of Monday. 

Bitcoin confluence levels 

BTC/USD  bulls and bears have taken time out. Low trading activity coupled with thee decreasing volatility locks Bitcoin in a tight range as the parties are waiting for something to happen. 

Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.

Resistance levels

$9,300 -  SMA200 (Simple Moving Average) one-hour, SMA50 four-hour, 38.2% Fibo retracement monthly
$9,400 - Pivot Point one-day Resistance 1, the highest level of the previous day, the upper line of four-hour Bollinger Band
$9,700 - psychological level, 23.6% Fibo retracement weekly and monthly

Support levels

$9,200 - the upper line of the Bollinger Band on the one-hour chart, SMA50 on the one-hour chart, 61.8% Fibo retracement daily, the middle line of four-hour Bollinger Band
$9,100 - SMA200 daily, the lowest level of the previous day
$8,700 - SMA50 daily, Pivot Point one-day Support 3.