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Bitcoin Price Analysis: BTC/USD falls below $9,000, can critical support level hold strong? – Confluence Detector

  • BTC/USD has a strong resistance level at $9,525.
  • On the downside, healthy support lies at $8,980.
Bitcoin Price Analysis: BTC/USD falls below $9,000, can critical support level hold strong? – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD dropped from $9,029.73 to $8,986, falling below the critical $9,000 psychological level in the process. On the downside, key support lies at $8,980, which needs to hold steady. This level has the 4-hour SMA 5, one-day SMA 5, one-hour SMA 10, 15-min SMA 50 and 15-min SMA 50. On the upside, strong resistance lies at $9,525, which has the Previous week and Previous month highs.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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