Bitcoin price prediction: Bulls are up to something? - Confluence Detector

BTC/USD is changing hands marginally above $3,800 amid quiet trading session. The digital coin No.1 has been oscillating in a tight range after strong movements at the end of the previous week. 

Meanwhile, Bitcoin and cryptocurrencies, in general, continue gaining traction both among everyday people and institutional investors. Thus, Bitcoin transaction volumes surpassed Paypal the second year in a row evidencing the growing popularity of the asset. Moreover, Samsung presented a new device with native cryptocurrency wallet that supports BTC, ETH and a couple of lesser-known altcoins. 

BTC/USD the daily confluence detector

There is a cluster of critical technical levels right above the current price that goes all the way up to $3,900. The confluence of barriers include:

* All sorts of SMA levels (SMA50 1-hour, SMA50 4hour, SMA200 1hour, DMA10, DMA100 among others)
* Fibonacci retracement levels (38.2% daily, 61.8% monthly, 38.2% weekly, 23.6% weekly)
* Pivot Points (1-day Resistance 3, 1-month Resistance 1)
* Bollinger Band lines (1-hour middle and upper, 4-hour middle, 15-minutes upper, lower and middle)

Once we manage to pass this area packed with resistance levels, psychological $4,000 will come into focus. The next interim barrier is seen at $4,100 and $4,187 (the previous week high).

On the downside, the support area below the current price is created by 23.6% Fibo retracement daily, the lower boundary of Bollinger Band on 1-hour chart, Pivot Point 1-day Support 1. We will need to see a move below $3,800 to pass this area.

SMA100 (4-hour) located at $3,50 creates the next interim barrier on the way down. It is followed by DMA100 on approach to $3,700 and DMA50 at $3,620. A critical obstacle lies with 23.6% Fibo retracement monthly on approach to $3,500.

BTC/USD, 1D