- Bearish and bullish pressure cancels out amid declining trading activity.
- Bitcoin recently added significantly to its value jumping above $4,000.
- There are just about the same resistance levels for Bitcoin as they are support levels.
The bear pressure and the bullish pressure appear to be canceling out as Bitcoin maintains the position above $3,800. Bitcoin recently added significantly to its value and jumped above $4,000. Bitcoin bulls confidence increased as buying entries skyrocketed. Bitcoin zoomed towards $4,200 but formed a high around $4,187 before it crashed towards the main support at $3,700.
Confluence Indicator technical levels
According to the confluence detector tool, there are just about the same resistance levels for Bitcoin as they are support levels. However, the bulls must brace themselves to overcome the main resistance level at $3,836.61. - $3,876.30 to open Bitcoin price path to $4,000.
These are the confluence resistance levels to look out for in the coming sessions: $3,836.61. - $3,876.30, $3,916.00 - $3,955.69 and $4,114.47 - $4,154.16.
- $3,836.61. - $3,876.30: The 5-day Simple Moving Average (SMA) 15-minutes chart, the 61.8% Fibonacci 1-minute chart. The 10-SMA 15-minutes chart, the previous high on the 15’ chart, the Bollinger Band 15’ middle curve, the 5-day SMA 1-hour chart, the 38.2$ Fib level weekly chart, the previous high 1-day chart and the Bollinger Band 15’ upper curve.
- $3,916.00 - $3,955.69: Pivot Point 1 Month R1.
- $4,114.47 - $4,154.16: Pivot Point 1 week R1 and the previous Month High.
These are the confluence support levels to look out for in the short-term: $3,796.91- $3,757.22, $3,717.52 -$3,677.83 and $3,638.14 - $3,558.75.
- $3,796.91- $3,757.22: The 23.6% Fib retracement level on the daily chart, the 100-day SMA daily chart and the Bollinger Band 1-hour lower curve.
- $3,717.52 -$3,677.83: The Bollinger Band daily chart middle curve, the pivot point 1-day S1, the previous low on the daily chart and the pivot point monthly chart R1.
- $3,638.14 - $3,558.75: 50-day SMA daily chart, the 38.2% Fib level monthly chart, the 200-day SMA 4-hour chart, pivot point 1 day S2 the previous week low and the 161.8% Fibo on the daily chart.
BTC/USD daily confluence detector
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