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Bitcoin Price Prediction: BTC/USD bulls come out on top, must overcome resistance at $7,260 - Confluence Detector

  • On the downside, a healthy support level lies at $7,015.
  • Above $7,260, a second strong resistance level lies at $7,345.
Bitcoin Price Prediction: BTC/USD bulls come out on top, must overcome resistance at $7,260 - Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

BTC/USD daily chart

BTC/USD has so far gone up from $7,148.50 to $7,187.20. On the upside, there are two resistance levels at $7,260 and $7,345. $7,260 has the one-month Fibonacci 23.6% retracement level and one-day Bollinger Band middle curve, while $7,345 has the one-day Pivot Point resistance one. The $7,015 support level has the one-week Pivot Point support one, one-day Pivot Point support one and five-day Simple Moving Average (SMA 5) curve.
 

Author

Rajarshi Mitra

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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