Bitcoin price prediction: BTC/USD bulls trying to re-enter the market following three straight bearish days
|- BTC/USD is currently trading for $10,615 as markets opened this Tuesday.
- BTC/USD bulls face massive resistance at $10,690.
BTC/USD bulls have taken control of the market in the early hours of Tuesday, as it is currently trading for $10,615. This follows three straight bearish days, during which BTC/USD fell from $12,365 to $10,575. The confluence detector shows that the price needs to go past resistance at $10,690.
BTC/USD confluence detector
The resistance level at $10,690 has the 100-day simple moving average (SMA 100) and SMA 5 curves.
The support levels are at $10,450 and $10,325. The former sees a confluence of 1-week pivot point support 1, while the latter has the previous low.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.