• BTC/USD is currently priced at $7,872 after the price fell to $7,915 this Tuesday.
  • As per the daily confluence detector, there is a healthy resistance level at $7,950.

BTC/USD went down from $8,020 to $7,915 this Tuesday as the bears continued their domination this Wednesday taking the price down to $7,872. As can be seen, the price is failing every single time at $8,000-zone. So, will the bulls be able to take the price back into the zone again today? The daily confluence detector shows that there is a healthy resistance level at $7,950.

BTC/USD daily confluence detector

The resistance levels are at $7,950, $8,150 and $8,250. The confluence detectors are at:

  • $7,950:15-min Bollinger band lower curve, 5-day simple moving average (SMA 5), SMA 10, SMA 50, SMA 100, SMA 200, hourly Bollinger band middle curve, hourly previous low, 15-min Bollinger band middle curve and 15-min previous low.
  • $8,150: The important $8,150 level has the 1-day previous high
  • $8,250: Daily Bollinger band middle curve and monthly 23.6% Fibonacci retracement level.

The support levels are at $7,800, $7,700 and $7,400. The confluences at those levels are:

  • $7,800: SMA 10, SMA 50, SMA 100, SMA 200, 4-hour Bollinger band middle curve and 1-day 38.2% Fibonacci retracement level.
  • $7,700: Monthly 38.2% Fibonacci retracement level, 4-hour Bollinger band lower curve and 1-day pivot point support 1.
  • $7,400: 1-week pivot point support 1 and 1-day Bollinger band lower curve.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

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