Bitcoin Price Prediction: BTC/USD bulls aim for $7,500 - Confluence Detector
- BTC/USD is currently trading at $7,340.
- BTC/USD faces strong resistance levels at $7,440 and $7,500.
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.
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.
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