Bitcoin price prediction: BTC/USD slips near $10,000, bulls must work their way up again - Confluence Detector
|- BTC/USD is currently trading for $9,670 as markets opened this Thursday.
- Daily confluence detector shows two healthy resistance levels at $9,900 and $10,000.
BTC/USD enjoyed a bullish Wednesday, wherein the price went up from $9,450 t0 $9,680. At one point, the price went up to as much as $9,960, but the bulls failed to keep up the momentum and then dropped to $9,670. The bulls face two healthy resistance levels at $9,900 and $10,000 as per the daily confluence detector.
BTC/USD daily confluence detector
The $9,900 resistance level has the monthly Fibonacci 61.8% retracement level while the $10,000 level has the 1-day previous high, 50-day simple moving average and the 1-day 38.2% Fibonacci retracement level. On the downside, the only support level of note is at $9,615, which has the 1-week Fibonacci 161.8% 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.