Bitcoin Price Prediction: BTC/USD consolidates price between $10,240 and $10,400
- If the bulls break past resistance at $10,325 then it should go back above the $10,500 zone.
- On the downside, a healthy support level lies at $10,225.
BTC/USD daily confluence detector
BTC/USD has been consolidating itself between $10,240 and $10,400 over the last four days. The price fell from $10,363.35 to $10,260.30 in the early hours of Saturday. The daily confluence detector shows us that healthy support lies at $10,225. This level has the one-week Fibonacci 38.2% retracement level, one-day Fibonacci 61.8% retracement level and SMA 100.
On the upside, a strong resistance level lies at $10,325 which has the SMA 5, SMA 10, SMA 50 and 15-min Previous High. If the bulls gather enough momentum to break past this level, then the price should go back above the $10,500 zone.
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.
