Bitcoin Price Prediction: Two strong resistance levels prevents BTC/USD’s foray into the $10,500 zone - Confluence Detector
|- BTC/USD spiked up from $9,705.65 to $10,191 this Tuesday.
- On the downside, healthy support lies at $10,025.
BTC/USD daily confluence detector
BTC/USD jumped back above the $10,000-zone as the price spiked from $9,705.65 to $10,191 this Tuesday. Following this, the bears corrected the price to $10,152.88 in the early hours of Wednesday. The daily confluence detector shows us that the bulls will need to overcome resistance at $10,215 and $10,345 to foray into the $10,500-zone. $10,215 has the one-hour Previous High and one-week Fibonacci 38.2% retracement level, while $10,345 has the one-week Fibonacci 23.6% retracement level and one-month Pivot Point resistance-one. On the downside, healthy support at $10,025 is keeping the price inside the $10,000-level. This support line has the one-week Fibonacci 61.8% retracement level and SMA 5.
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