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

Bitcoin Price Forecast: BTC/USD has clear path to $10,000 – Confluence Detector

  • BTC/USD bears currently look to drop the price below $9,600.
  • Daily confluence detector one healthy support level at $9,500.
Bitcoin Price Forecast: BTC/USD has clear path to $10,000 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

BTC/USD has had a bearish start to the day as the price dropped from $9,614.56 to $9,602.45 in the early hours of Friday. If the bears wish to stay in control, they will need to break below the $9,500 support level. This level has the one-day Pivot Point support-one, one-week Pivot Point resistance-two, one-day Previous Low,  4-hour SMA 10 and one-hour SMA 50.

There is a lack of strong resistance levels. If the bulls wrest back control, they have a clear path all the way up to the $10,000-zone and beyond.
 

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: Bulls eye a second leg higher as whales buy

Cardano Price Forecast: Bulls eye a second leg higher as whales buy

Cardano trades above $0.196 at the start of the week after posting double-digit gains over the past two weeks. ADA’s bullish price action is supported by steady whale accumulation. Meanwhile, derivatives sentiment is showing a slight bullish tilt, suggesting a second leg higher for ADA.

Shiba Inu Price Forecast: SHIB defends key support level amid possible whale support

Shiba Inu Price Forecast: SHIB defends key support level amid possible whale support

Shiba Inu price edges higher, bouncing off a key support level near $0.00000462. The meme coin shows early signs of renewed whale support, while retail demand holds firm, with rising Open Interest and funding rates. The technical outlook for SHIB indicates a mild bullish bias, supported by the intraday recovery.

Top 3 Price Prediction: BTC bulls strengthen, ETH eyes breakout, XRP rebounds

Top 3 Price Prediction: BTC bulls strengthen, ETH eyes breakout, XRP rebounds

Bitcoin and Ethereum show signs of strength as bulls defend key support on Monday after gaining 2% and 1.3% in the previous week. Meanwhile, Ripple recovers mildly at the start of the week after sliding over 5% last week.

Crypto Market Overview: Bitcoin steadies as BoJ flags possible rate hikes

Crypto Market Overview: Bitcoin steadies as BoJ flags possible rate hikes

The broader cryptocurrency market holds steady, with Bitcoin (BTC) trading near $65,000, above its 50-day Exponential Moving Average (EMA) of $64,702. The Bank of Japan (BoJ) released the summary of opinions from its July meeting, with nearly half of the board members leaning hawkish.
Bitcoin: Can bulls weather the market uncertainty?

Bitcoin: Can bulls weather the market uncertainty?

Bitcoin (BTC) remains resilient, trading above $65,000 on Friday, with bulls defending key support despite cautious market sentiment. US-listed spot Bitcoin Exchange-Traded Funds (ETFs) showed strong inflows through Thursday, pointing to renewed institutional demand.