Bitcoin price prediction: Recovery momentum fading away - Bitcoin confluence

Bitcoin (BTC) has slipped under $5,300 amid technical correction after a strong growth on Tuesday.  While the upside potential is fading away, the first digital coin is well positioned for further recover as long as it stays above $5,200 handle. 

Bitcoin confluence levels 

There are a lot of strong technical barriers clustered below the current price, which means, that Bitcoin bears are under a disadvantage. The support area starts right  below the current price and goes all the way down to $5,200. 

Resistance levels 

• $5,370-$5,400 - upper boundaries of 1-hour and 4-hour Bollinger Bands, SMA10 1-hour, Pivot Point 1-day Resistance 1; 
• $5,630-$5,650 - previous week high and previous month high; 
• $5,900 - Point 1-month Resistance 1, Point 1-week Resistance 1; 

Support levels 

• $5,300-$5,200 - middle line of 1-day Bollinger Band, 38.2% Fibo retracement  daily, 23.6% Fibo retracement daily; 38.2% Fibo retracement  weekly, 23.6% Fibo retracement monthly, DMA10, SMA200 1-hour, SMA100 4-hour, middle line of 1-hour Bollinger Band; 
• $5,050 - SMA200 4-hour, 38.2% Fibo retracement monthly, 161.8% Fibo projection; 
• $5,000 - Pivot Point 1-day Resistance 3 followed by the previous week low. 

BTC/USD, 1-day