Bitcoin price prediction: BTC/USD capped by $5,200 - Confluence Detector
05/16/2019, 04:51:15
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Bitcoin (BTC) extended Tuesday’s gains during early Asian hours and touched $5,271 before retracing to $5,220. The largest digital asset is moving wit

  • BTC/USD bulls stop short of $5,200.
  • The price is sandwiched between strong support and resistance areas.
  • BTC/USD bulls stop short of $5,200.
  • BTC/USD bulls stop short of $5,200.
  • The price is sandwiched between strong support and resistance areas.
  • The price is sandwiched between strong support and resistance areas.

    Bitcoin (BTC) extended Tuesday’s gains during early Asian hours and touched $5,271 before retracing to $5,220. The largest digital asset is moving within an upside channel as long as $5,000 remains unbroken. 

    Bitcoin

    Bitcoin confluence levels

    Bitcoin confluence levels

    All the strong barriers passed by BTC/USD on Tuesday have turned into support levels, which means that the cryptocurrency is positions for the further recovery, provided that the overall sentiments on the cryptocurrency market remain upbeat. 

    BTC/USDcryptocurrency market

    Resistance levels

    Resistance levels
    • A cluster of technical levels located right above the current price include an upper and a middle line of 15-min Bollinger Band, short-term SMA levels, and an upper line of 4-hour Bollinger Band.
    • The highest level of the previous 4 hours and 38.2% Fibo retracement weekly separates the coin from $5,300 handle. Once this barrier is out of the way, the recovery may be extended towards $5,350 (23.6% Fibo retracement weekly).
    • The critical barrier $5,400 is strengthened by a Pivot Point 1-week Resistance 1 and Pivot Point 1-day Resistance 3 and followed by the previous week high at $5,468.
  • A cluster of technical levels located right above the current price include an upper and a middle line of 15-min Bollinger Band, short-term SMA levels, and an upper line of 4-hour Bollinger Band.
  • The highest level of the previous 4 hours and 38.2% Fibo retracement weekly separates the coin from $5,300 handle. Once this barrier is out of the way, the recovery may be extended towards $5,350 (23.6% Fibo retracement weekly).
  • The critical barrier $5,400 is strengthened by a Pivot Point 1-week Resistance 1 and Pivot Point 1-day Resistance 3 and followed by the previous week high at $5,468.
  • Support levels 

    Support levels 
    • Below the current price, the strong support area is registered bdlow $5,200. It is created by SMA200 and SMA50 4-hour, SMA100 1-hour, 38.2% Fibo retracement daily, 61.8% Fibo retracement weekly, and a middle line of a 4-hour Bollinger Band. 
    • The next support comes at  $5,000 (SMA100, 4-hour, lower boundary of 4-hour Bollinger Band).
    • Once it is cleared, the sell-off may be extended towards $5,450 (middle line of 1-day Bollinger Band).
  • Below the current price, the strong support area is registered bdlow $5,200. It is created by SMA200 and SMA50 4-hour, SMA100 1-hour, 38.2% Fibo retracement daily, 61.8% Fibo retracement weekly, and a middle line of a 4-hour Bollinger Band. 
  • The next support comes at  $5,000 (SMA100, 4-hour, lower boundary of 4-hour Bollinger Band).
  • Once it is cleared, the sell-off may be extended towards $5,450 (middle line of 1-day Bollinger Band).
  • BTC/USD 1D 

    BTC/USD 1D