Bitcoin Price Prediction: BTC/USD bulls aim for $7,500 - Confluence Detector

BTC/USD is currently trading for $7,340 as markets opened this Saturday. The bulls are aiming for the $7,500-level but face substantial resistance levels at $7,440 and $7,500. The daily confluence detector will help us see the confluence at each of those levels.

BTC/USD Daily Confluence Detector

Resistance levels lie at $7,500, $7440, and $7,410. The confluences at those levels are:

• $7,500: SMA 10 and 1-month pivot point resistance 3.
• $7,440: No confluences detected.
• $7,410: Daily 61.8% Fibonacci retracement level.

The support levels are at $7,280, $7,235, $7,200, and $7,075. The confluences at those levels are:

• $7,280: 15-min previous low and SMA 5.
• $7,235: Weekly 61.8% Fibonacci retracement level.
• $7,200: SMA 10
• $7,075: Daily 38.2% Fibonacci retracement level and 4-hour previous low.