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Bitcoin Price Prediction: BTC/USD bulls take control of the market and aim for the $5,400 level  - Confluence Detector

  • BTC/USD went up from $5,039 to $5,340.25 this Tuesday before the bears took control this Wednesday.
  • The daily confluence detector has three healthy support levels on the downside at $5,335, $5,315 and $5,285.
Bitcoin Price Prediction: BTC/USD bulls take control of the market and aim for the $5,400 level  - Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

BTC/USD bulls have suddenly woken from their slumber as Wednesday comes to a close. The price has gone up from $5,340.25 to $5,363 and will look to overcome resistance at $5,435. This level has the one-day Fibonacci 23.6% retracement level and 15-min Bollinger Band upper curve. 

On the downside, there are three healthy support levels at $5,335, $5,315 and $5,285. $5,335 has the SMA 5 and one-day Fibonacci 38.2% retracement level, while $5,315 has the SMA 5 and SMA 10. Finally, $5,285 has the one-hour Bollinger Band middle curve, SMA 50 and SMA 200.
 

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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