RATE Group | BTC/USD struggles to stay above $9,200 – Confluence Detector
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BTC/USD struggles to stay above $9,200 – Confluence Detector

04 Nov BTC/USD struggles to stay above $9,200 – Confluence Detector

Posted at 14:04h in Bitcoin News by

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  • BTC/USD is locked in a tight range as the recovery falters.
  • A sustainable move below $9,100 will take the price to $8,700.

Bitcoin (BTC) has recovered from the intraday low of $9,127; however, the upside is limited by $9,300. At the time of writing, BTC/USD is changing hands at at $9,250, mostly unchanged both on a day-to-day basis and since the beginning of Monday. 

Bitcoin confluence levels 

BTC/USD  bulls and bears have taken time out. Low trading activity coupled with thee decreasing volatility locks Bitcoin in a tight range as the parties are waiting for something to happen. 

Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.

Resistance levels

$9,300 –  SMA200 (Simple Moving Average) one-hour, SMA50 four-hour, 38.2% Fibo retracement monthly
$9,400 – Pivot Point one-day Resistance 1, the highest level of the previous day, the upper line of four-hour Bollinger Band
$9,700 – psychological…

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