BTC/USD Price Prediction: BTC/USD stuck at $3,850 and has little scope for growth – Confluence Detector
BTC/USD market sees little change this Wednesday as it finished the day at $3,851.
The price is sandwiched between strong levels of resistance and support which will inhibit any drastic change.
BTC/USD finished Wednesday at $3,851 seeing minimal change. The price is likely to change any time soon as the daily confluence detector shows strong resistance at $3,860 and a stack of support levels from $3,844-$3,850. It is highly likely that BTC/USD will finish the Thursday session around the $3,850 mark.
BTC/USD daily confluence detector
According to the BTC/USD daily confluence detector, the resistance levels lie at $3,860, $3,875, and $3,995. The confluences at those levels are:
$3,860: 200-day simple moving average (SMA 200), SMA 5, SMA 50, hourly Bollinger band middle curve, 15-min previous high, weekly 23.6% Fibonacci retracement level, daily 61.8% Fibonacci retracement level, and 4-hour Bollinger band middle curve.
$3,875: Monthly 38.2% Fibonacci retracement level, SMA 200, SMA 50, hourly Bollinger band upper curve, and SMA 100
$3,995: Monthly 23.6% Fibonacci retracement level.
The support levels are at $3,844-$3,850 and $3,780. The confluences at those levels are:
$3,844-$3,850: Hourly previous low, SMA 10, SMA 5, SMA 50, 15-min previous low, 15-min Bollinger band middle curve, 4-hour previous low, daily 38.2% Fibonacci retracement level, 15-min Bollinger band lower curve, and daily Bollinger band middle curve.
$3,780: SMA 200.