Bitcoin Price Prediction: BTC/USD bulls fail to stay above $6,725 resistance line as price falls - Confluence Detector
- Earlier this Tuesday, BTC/USD went up from $6,500.70 to $6,768.85.
- The daily confluence detector shows a lack of healthy support levels on the downside.
BTC/USD daily confluence detector
BTC/USD bears took the price down from $6,768.85 to $6,675 this Wednesday. This followed a bullish Tuesday wherein the price jumped from $6,500.70 to $6,768.85.
The daily confluence detector shows a lack of healthy support levels on the downside. On the upside, there is only one resistance level of note at $6,725, which has the Previous Week high and one-day Pivot Point resistance-one. If the bears are to truly take control, there won’t be any healthy support levels to stop the downward movement.
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.
