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Bitcoin Price Analysis: BTC/USD trapped between strong support and resistance levels – Confluence Detector

  • BTC/USD bears remained in control in the early hours of Saturday.
  • Strong resistance lies at $9,500, while healthy support lies at $9,275.
Bitcoin Price Analysis: BTC/USD trapped between strong support and resistance levels – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

BTC/USD daily chart

BTC/USD bears remained in control of the market as the price dropped from $9,423.49 to $9,382.50 in the early hours of Saturday. As per the daily confluence detector, BTC/USD has strong resistance at $9,500 and a healthy support level at $9,275.

$9,500 has the 4-hour Previous High, Previous Month high, 15-min Bollinger Band upper curve, 4-hour SMA 10 and 15-min SMA 100. The $9,275 support level has the one-week Fibonacci 38.2% retracement level, 4-hour and one Bollinger Band middle curves.
 

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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