Bitcoin price prediction: BTC/USD consolidate losses below $10,000 - Bitcoin confluence
- BTC/USD is consolidating losses with a short-term bearish bias.
- The critical resistance is seen on approach to $10,100.
Bitcoin (BTC) retreated from the intraday high of $10,047 and returned to the area below $10,000 amid growing bearish pressure. At the time of writing, BTC/USD is hovering around $9,900 with a short-term downside bias. The coin has lost about 1% in recent 24 hours.
Bitcoin confluence levels
There are quite a number of technical levels clustered above the current price. It means that the coin may be vulnerable to further losses at least as long as it stays below critical $10,000. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.
Resistance levels
$10,060-$10,100 - 23.6% Fibo retracement monthly and daily, the upper line of one-hour Bollinger Band, SMA100 (Simple Moving Average), 61.8% Fibo retracement weekly, the middle line of four-hour Bollinger Band;
$10,400 - the highest level of the previous week, Pivot Point one-day Resistance 3;
$10,800 - Pivot Point one-week Resistance 3.
Support levels
$9,700 - Pivot Point one-week Support 1, Pivot point one-day Support 2;
$9,600 - the lowest level of the previous week, Pivot point one-day Support 3;
$9,300 - the lowest level of the previous month.
Author
Tanya Abrosimova
Independent Analyst
