Bitcoin Price Prediction: BTC/USD currently has healthy support at $8,945 as price continues to stay above the $9,000 zone -Confluence Detector
- BTC/USD had gone up from $9,068.90 to $9,159.20 this Friday.
- Confluence detector shows strong resistance at $9,115, $9,175 and $9,230.
BTC/USD daily confluence detector
BTC/USD bears have taken control of the market in the early hours of Saturday as the price dropped a bit from $9,159.20 to $9,104.62. This follows a bullish Friday, where BTC/USD went up from $9,068.90 to $9,159.20. The daily confluence detector shows that there is a healthy support level at $8,945, which has the SMA 5, SMA 100 and one-month Fibonacci 23.6% retracement level.
On the upside, there are strong resistance levels at $9,115, $9,175 and $9,230. $9,115 has the SMA 5, SMA 10, SMA 50, one-hour Bollinger Band and one-day Fibonacci 38.2% retracement level. $9,175 has the 4-hour Previous High, 15-min Previous Low and 15-min Bollinger Band, while $9,230 has the one-day Pivot Point and one-month Fibonacci 38.2% retracement level.
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.
