Bitcoin Price Prediction: BTC/USD bears aim to take price below $9,400 – Confluence Detector
- BTC/USD bears face a stack of healthy support levels between $9,320-$9,400.
- On the upside, there is a strong resistance level at $9,600.
BTC/USD daily confluence detector
BTC/USD bears took charge in the early hours of Tuesday as the price dropped from $9,429.75 to $9,409. The bears face a stack of healthy support levels between $9,320-$9,400. This stack has the one-day, one-week and one-month Fibonacci 23.6% retracement levels, 4-hour Bollinger Band middle curve, 4-hour SMA 10, 15-min SMA 50, one-hour SMA 50, one-day SMA 50, one-hour SMA 100 and 15-min SMA 200.
On the upside, there is a strong resistance level at $9,600. This level sees a confluence of the one-month Fibonacci 23.6% retracement level, 4-hour Bollinger Band upper curve, one-day Bollinger Band middle curve, 4-hour SMA 100 and one-day SMA 10.
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.
