TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Bitcoin Price Analysis: BTC/USD has clear path till $10,000 as bulls take flight pre-halving – Confluence Detector

  • BTC/USD gained more than $1,000 in valuation this Wednesday.
  • The daily confluence detector shows a lack of strong resistance levels on the upside.
Bitcoin Price Analysis: BTC/USD has clear path till $10,000 as bulls take flight pre-halving – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

BTC/USD flew up from $7,758.34 to $8,790 this Wednesday, adding more than $1,000 to its valuation. Currently, the price has gone down a bit to $8,762.35 in the early hours of Thursday. There is a lack of strong resistance levels on the upside. On the downside, there are two healthy support levels at $8,000 and $7,885. The former has the one-week Pivot Point resistance-one, one-day Pivot Point resistance-three, one-day SMA 200, one-hour SMA 50. The $7,885-level has the one-day Pivot Point resistance-two, one-day Fibonacci 161.8% retracement level, 4-hour Bollinger Band middle curve and one-day Bollinger Band upper curve.
 

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.

More from Rajarshi Mitra
Share:

Editor's Picks

Cardano Price Forecast: Weak momentum puts ADA recovery at risk

Cardano Price Forecast: Weak momentum puts ADA recovery at risk

Cardano is trading below $0.222 on Thursday after failing to sustain gains above the 50-day Exponential Moving Average near $0.228 the previous day. Weakening derivatives metrics and fading bullish momentum continue to weigh on sentiment, while a break below the 100-day EMA could push ADA lower. Derivatives data shows a cautious outlook for Cardano.

Ripple and Stellar outlook: XRP and XLM recovery stalls below EMAs

Ripple and Stellar outlook: XRP and XLM recovery stalls below EMAs

Ripple and Stellar remain under pressure on Thursday as both struggle to sustain their recent recovery attempts. XRP trades below $1.36, while XLM slips beneath $0.183, as mixed derivatives metrics, weakening momentum indicators and heating market conditions suggest cautious market sentiment. Derivatives data shows weakening conditions for Ripple and Stellar.

Zcash Price Forecast: ZEC reclaims $1,300 as ETF inflow hits 30-day high

Zcash Price Forecast: ZEC reclaims $1,300 as ETF inflow hits 30-day high

Zcash price hovers above $1,300 on Thursday, sustaining its 15% gains so far this week with three straight days of recovery. Institutional and retail appeal is returning, with over $15 million in inflows recorded on Wednesday and ZEC futures Open Interest rising to a 30-day high of $2.89 billion. The technical outlook for ZEC indicates an upside bias as recovery gains traction.

Bitcoin derivatives improve, but $87,000 sell wall looms

Bitcoin derivatives improve, but $87,000 sell wall looms

Bitcoin (BTC) showed signs of recovery on Wednesday as derivatives positioning improved, but sell risk grew between $86,500 and $87,500, where sell orders and leveraged liquidation clusters could limit further gains.
Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains

Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains

Bitcoin (BTC) extends losses this week, trading below $82,500 as of Friday as selling pressure continues. Weakening institutional demand supports this pullback as BTC spot Exchange-Traded Funds (ETFs) are on track to record a two-week withdrawal streak, reaching $146.19 million in net outflows through Thursday.