Bitcoin (BTC) hit a new April's high $7,748 on April 23 and retreated to $7,500. Since that time, the first digital coin has been oscillating in a tight range limited by $7,000 on the upside and $7,500 on the downside. While BTC\/USD retreated from the peak, many traders still expect further recovery amid growing concerns bout the monetary policy of global central banks.<\/p>\n
Technical barriers clustered both below and above the current price may keep BTC in the range for a while; however, the bullish scenario looks more likely at this stage. Let's have a closer look at the technical levels for BTC\/USD:<\/p>\n
$7,650 - the upper line of the daily Bollinger Band, 23.6% Fibo retracement daily$8,000 - daily SMA200, Pivot Point 1-day Resistance 3$8,350 - Pivot Point 1-week Resistance 2<\/p>\n
$7,450 - Pivot Point 1-day Support 1, the lowest level of the previous day$7,200 - 61.8% Fibo retracement monthly, the lower line of the 4-hour Bollinger Band$7,150 - the middle line of the daily Bollinger Band, 61.8% Fibo retracement weekly, daily SMA10, Pivot Point 1-day Support 3<\/p>\n
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Bitcoin Price Prediction: BTC\/USD ready to resume the recovery Confluence Detector - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) hit a new April's high $7,748 on April 23 and retreated to $7,500. Continue reading