Tanya Abrosimova
Independent Analyst
- BTC/USD has settled in a range above $7,800.
- The critical resistance is created on approach to $8,150.
Bitcoin (BTC) has stayed marginally above $7,800 after the recovery from the recent low of $7,437; We will need to see a sustainable move above $8,000 to get back to the recovery track; however, the upside momentum is not strong enough at this stage. BTC/USD is mostly unchanged in recent 24 hours. On a weekly basis, BTC/USD is down 9.5%.
Bitcoin confluence levels
Technical levels clustered around the current price mean that the coin is likely to stay rangebound in the nearest future. A strong move in either direction is needed to clarify the technical picture.
Resistance levels
$7,900 - the highest level of the previous 4-hour interval, the upper edge of 1-hour Bollinger Band and the top edge of 15-min Bollinger Band.
$8,150 - SMA100 (Simple Moving Average) 1-hour, 23.6% Fibo retracement monthly.
$8,400 - SMA50 (Simple Moving Average) 4-hour, SMA200 1-hour, SMA10 daily.
Support levels
$7,800 - the lower edge of 15-min Bollinger Band, the lowest level of the previous 4-hour interval.
$7,650 - 38.2% Fibo retracement monthly.
$7,300 - the lower edge of 4-hour Bollinger Band, Pivot Point 1-week Support 2
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto trading volume declines further, signaling waning trader enthusiasm and market momentum
The total crypto market capitalization lost $1.01 trillion since January, while Santiment data shows that crypto-wide trading volume has dropped since February’s peak. For a healthier and more sustainable recovery, bulls look for rising prices accompanied by increasing volumes; until trading activity picks up, cautious market sentiment is likely to prevail.
BNB price tops $570 as Binance receives $2 billion investment from Dubai
BNB price rose as high as $574 on Thursday as markets reacted to news that Binance received major investments from an Abu Dhabi based firm. Derivative markets analysis shows how BNB traders are repositioning amid the latest swings in market sentiment.
PEPE price outperforming DOGE and SHIB as US CPI boosts Crypto markets
PEPE price crossed the $0.00007 for the first time this week as markets reacted to positive macro market signals. Early insights show crypto traders are displaying high risk appetite at the onset of the current market rally. Could this sustain PEPE price uptrend along with the rest of the memecoin market.
XRP records slight gains as Ripple's battle with SEC nears end
Ripple's XRP recorded a 2% gain on Wednesday following rumors of the company nearing an agreement with the Securities & Exchange Commission (SEC) to end their four-year legal battle.
Bitcoin: Will Trump's Strategic Bitcoin Reserve and White House Crypto Summit support BTC recovery?
Bitcoin price extends its decline on Friday, falling over 5% so far this week. BTC uncertainty and volatility spikes liquidated $1.67 billion as the first-ever White House Crypto Summit takes place on Friday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.