Bitcoin price prediction: Market faces strong resistance at $10,825 - Confluence Detector
|- BTC/USD went up from $10,660 to $10,700 in the early hours of Friday.
- Confluence detector shows a lack of healthy support levels.
BTC/USD has had an extremely bullish Thursday, wherein the price spiked from $9,700 to $10,670. This Friday, the price has gone up further to $10,700, facing strong resistance at $10,825. Worryingly, the daily confluence detector shows a lack of healthy support levels on the downside.
BTC/USD daily confluence detector
The only support level of note is at $10,685, which doesn’t have any confluences. The $10,825 resistance level has the 50-day simple moving average (SMA 50), 1-day previous high, and previous week high.
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.