Bitcoin price prediction: BTC/USD stuck hopelessly between strong resistance and support levels - Confluence Detector
|- BTC/USD bulls have staged a weak comeback following three consecutive bearish days.
- There is only one support level keeping the price above $8,000.
After three consecutive bearish days, BTC/USD bulls are mounting a weak comeback. So far this Thursday, they managed to pick up the price from $8,085 to $8,102. The daily confluence detector shows us that currently, the price is stuck between heavy levels of support and resistance. On the upside, there is a resistance stack from $8,095-$8,120 and normal levels at - $8,180, $8,230 and $8,380. Support levels are at $8,080 and $7,900.
BTC/USD daily confluence detector
The $8,095-$8,120 stack has the 5-day Simple Moving Average (SMA 5), SMA 10, SMA 50, SMA 100, SMA 200, 4-hour previous high, one-day Fibonacci 38.2% retracement level, 15-min previous high, one-hour previous high, 15-min Bollinger Band middle curve and one-hour Bollinger Band upper curve. $8,180 has the one-week Pivot Point support one and $8,230 has the 4-hour Bollinger Band middle curve and one-day previous high. Finally, $8,380 has the previous week low.
On the downside, $8,080 has the SMA 5, SMA 10, 15-min previous low, 15-min Bollinger Band middle curve ad one-day Fibonacci 23.6% retracement level. $7,900 has the one-week Pivot Point support two.
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.