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.
BTC/USD daily confluence detector
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
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.
