Bitcoin price prediction: BTC/USD faces healthy resistance at $10,675 - Confluence Detector
|- BTC/USD crossed $10,500 and is currently priced at $10,546.50.
- Daily confluence detector shows a lack of healthy support levels.
BTC/USD had four straight bullish days, wherein the price went up from $9,515 to $10,546.50. The hourly breakdown shows that price fell from $10,470 to $10,405 before the bulls stepped back in and took the price up to $10,546.50. The confluence detector shows no healthy support levels on the downside.
BTC/USD daily confluence detector
While there are no healthy support levels on the downside, the only resistance level of note is at $10,675. This level has the 1-day pivot point resistance 1, 200-day simple moving average (SMA 200) curve and 1-month Fibonacci 38.2% retracement level.
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.