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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.

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