Bitcoin Price Forecast: BTC/USD bulls pushed down by strong resistance levels – Confluence Detector
- BTC/USD daily confluence detector shows a lack of healthy support levels.
- On the upside, there are two strong resistance levels at $9,475 and $9,700.
BTC/USD daily confluence detector
BTC/USD went down from $9,463.70 to $9,432 in the early hours of Saturday. The daily confluence detector shows a lack of healthy support levels, so further price drops can be expected. On the upside, there are two strong resistance levels at $9,475 and $9,700.
$9,475 has the one-hour SMA 5, 4-hour SMA 5, 15-min SMA 10, one-hour SMA 10, 15-min SMA 50, 15-min Bollinger Band middle curve, one-hour Bollinger Band middle curve, 15-min Previous Low, one-hour Previous Low and 4-hour Previous High. The $9,700-level has the one-hour SMA 100, one-month Fibonacci 23.6% retracement level, one-day Fibonacci 61.8% retracement level and 4-hour Bollinger Band middle curve.
Author
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.
