Bitcoin price prediction: BTC/USD bulls face strong lines of resistance - Confluence Detector

  • BTC/USD has had a bearish start to the day and done down to $10,161.
  • Daily Confluence Detector shows that BTC/USD has one strong support line at $10,050. 

BTC/USD has had a bearish start to Saturday, following a bearish Friday. Since yesterday, the price of the asset has gone down from $10,271.70 to $10,161. The hourly breakdown shows us that the price had dropped to $10,087, where it found support and jumped up to $10,170. Since then, the bears have corrected the price to $10,161.

BTC/USD daily chart


The daily confluence detector shows three resistance levels at $10,225, $10,445 and $10,500. $10,225 has the 5-day Simple Moving Average (SMA 5), SMA 50 and 1-day Fibonacci 61.8% retracement level. $10,445 has the 1-day Pivot Point resistance 2, while $10,500 has the 1-week Pivot Point resistance 1 and SMA 50.

The $10,050 support line has the 1-day Previous Low and 1-day Pivot Point support 1.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Consolidating Bitcoin Price May Be Setting Up Ethereum for a 30% Surge

Bitcoin’s multi-month consolidation in a giant descending wedge led altcoins to defy trader’s common logic and the majority of altcoins continued to drop to new lows instead of rallying. 

More Bitcoin News

Dash market update: DASH/USD grinding into a bull trap

Dash buyers are showing their bullish prowess on Tuesday. Generally, indecision clouds the majority of cryptocurrencies on the market. However, Dash is putting intense pressure on key levels with the main purpose being to break above the symmetrical triangle resistance.

More Dash News

Litecoin (LTC) price analysis: LTC/USD spends its 8th birthday in a range

Litecoin is stuck in a depressingly narrow range limited by $58.00 on the upside and $53.00 on the downside. At the time of writing, LTC/USD is changing hands at $56.27, the coin has barely changed both since the beginning of the day and on a day-on-day basis despite mild recovery among other top altcoins. 

More Litecoin News

Ethereum (ETH) market update: a trip to $200.00 delayed for now

ETH bottomed at $152.50 on September 26 and managed to claw back some ground. However, the upside momentum has faded away on approach to the next critical resistance area of $190.00-$200.00.

More Ethereum News


Bitcoin Weekly Forecast: BTC bulls trapped below SMA200 daily

Bitcoin bulls have had a short glimpse of victory only to suffer a bitter disappointment this week.

Read the weekly forecast