Bitcoin price prediction: BTC/USD bulls are gunning for $10,000 and beyond – Confluence detector
- Bitcoin is holding big gains of over 2% in the latter part of the session on Wednesday.
- BTC/USD bulls consolidated for much of Wednesday, ahead of further potential moves north.
- The next area of interest for the bulls will likely be $10,000.
Bitcoin price managed to pick up some momentum higher towards the late part of Wednesday. The price was seen holding decent gains of 2.0% in the latter part of the day. BTC/USD is holding steady above the $8000 price territory.
BTC/USD is running at three consecutive weeks in the green, it has gained a whopping 60% over the mentioned period. There is a lack of slowdown signs at present, with eyes locked in $10,000.
In terms of the key levels to note via the daily confluence detector, to the upside; $8179.01, daily 23.6% Fibonacci, $8348.25, daily pivot point resistance. To the downside; $8094.39, daily 38.2% Fibonacci, $7925.15, daily 61.8% Fibonacci.
BTC/USD daily confluence detector
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
