BTC/USD Price Prediction: Market has minimal scope of growth - Confluence Detector

  • The BTC/USD market opened at $3,855 this Friday.
  • The price is in between strong levels of resistance and support so growth potential is minimal.

The BTC/USD market opened at $3,855 this Friday. Don’t expect any drastic growth as the price is sandwiched between extremely strong levels of resistance and support, as per the daily confluence detector. The price will not move away from the $3,850 range any time soon. 

BTC/USD daily confluence detector

BTC/USD daily confluence detector shows resistance levels at $3,885, $3,930, and $4,200. The confluences at those levels are:

  • $3,885: 15-min Bollinger band upper curve, 100-day simple moving average (SMA 100), 15-min previous high, hourly previous high, 4-hour previous high, daily 38.2% Fibonacci retracement level, hourly Bollinger band upper curve, SMA 10, SMA 5, monthly 38.2% Fibonacci retracement level, SMA 50, SMA 200, and daily 23.6% Fibonacci retracement level.
  • $3,930: Daily previous high, daily pivot point resistance 1, and previous week high.
  • $4,200: Weekly pivot point resistance 3 and previous monthly high.

BTC/USD has support levels at $3,834-$3,874, $3,775, and $3,614-$3,714. The confluences at those levels are:

  • $3,834-$3,874: Daily Bollinger band middle curve, hourly Bollinger band lower curve, 4-hour Bolinger band middle curve, 4-hour previous high, SMA 5, SMA 10, 15-min Bolinger band lower curve, hourly Bollinger band middle curve, SMA 100, SMA 50, SMA 200, hourly previous low, 15-min previous low,weekly 23.6% Fibonacci retracement level, weekly 38.2% Fibonacci retracement level, 4-hour Bollinger band lower curve, and daily 61.8% Fibonacci retracement level.
  • $3,775: Weekly 61.8% Fibonacci retracement level. 
  • $3,614-$3,714: Weekly pivot point support 3, SMA 50, SMA 100, daily Bollinger band lower curve, monthly 61.8% Fibonacci retracement level, and previous week low.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price analysis: BTC/USD rising wedge pattern reaction risks breakdown to $9,400

Bitcoin’s spectacular movement to levels slightly below $11,000 has astonishingly hit the pause button. As discussed yesterday, the weekend session was enviable with Bitcoin breaking above the 50 Simple Moving Average (SMA) and the 100 SMA one-hour.

More Bitcoin News

Ripple price analysis: XRP/USD smashes through $0.2750 support

Ripple bears have returned in the market, this time with a precise intention; to revenge. This comes after a failed attempt to sustain gains above $0.2900. Following remarkable movement from the acute declines experienced last week, a high was formed at $0.2928.

More Ripple News

Ethereum market update: ETH/USD retreating as $205 remains unconquered

Ethereum formidable move from last week’s lows smashed through $200 hurdle. However, the failure to break above $205 allowed the sellers an easy-takeover. For this reason, Ethereum is retreating below $200 (failed support).

More Ethereum News

Ethereum Classic price analysis: ETH/USD soars 5% in a bearish market

Ethereum Classic is visibly the leading cryptocurrency among the top 20 cryptos. The $661 million crypto soared massively on Tuesday. The gains brighten the crypto market that is already a sea of red.

More Ethereum Classic News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast