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Bitcoin Price Prediction: BTC/USD consolidates below $9,500 - Confluence Detector

  • BTC/USD fell from $9,504.50 to $9,333.85 this Friday.
  • The daily confluence detector shows two strong resistance levels at $9,545 and $9,600.
Bitcoin Price Prediction: BTC/USD consolidates below $9,500 - Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD bulls took control of the market this Saturday as the price rose from $9,339.65 to $9,423.17. This follows a bearish Friday, wherein BTC/USD fell from $9,504.50 to $9,333.85, as the price consolidated below the $9,500 level. The daily confluence detector shows two strong resistance on the upside at $9,545 and $9,600. $9,600 has the Previous Month high and the Previous Week high. $9,545 has the one-day Previous High, one-day and 4-hour Bollinger Bands. On the downside, the $9,300 support level has the SMA 5, 4-hour Previous Low and one-day Fibonacci 23.6% retracement level. 
 

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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