Rajarshi Mitra
Independent Analyst
- 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.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1
TRON, a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report. TRON noted gains across several metrics like market capitalization, revenue and total value locked.
XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launch
XRP is hovering near $0.53 on Friday, spending nearly all week below $0.55. Ripple CTO David Schwartz addressed concerns on stablecoin and XRP utility on Thursday.
Terraform Labs set to restrict access for users in the US after recent ruling in SEC lawsuit
Blockchain company Terraform Labs said Thursday that it will restrict access to some of its products and services for US-based users as it expects to receive a court order soon in light of its legal battle against the US Securities and Exchange Commission (SEC).
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.