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Bitcoin Price Prediction: BTC/USD bulls keep the price above $9,600

  • The bulls are in control of the market for the second day in a row, following this Wednesday’s massive bearish action.
  • There are two healthy support levels at $9,575 and $9,425 on the downside.
Bitcoin Price Prediction: BTC/USD bulls keep the price above $9,600
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

The bulls have taken control for the second straight day as they were able to push the price from $9,611 to $9,648.45 in the early hours of Friday. The daily confluence detector shows that there are two healthy support levels on the downside at $9,575 and $9,425, which are holding the price up. $9,575 has the Previous Month high, while $9,425 has the one-day Previous Low, one-week Pivot Point support-two and SMA 200. On the upside, there are two strong resistance levels at $9,900 and $10,025. $9,900 has the one-week Pivot Pint support-one and SMA 100, while $10,025 has the one-week Fibonacci 61.8% retracement level and SMA 10.
 

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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