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Bitcoin price prediction: BTC/USD daily confluence detector shows a lack of healthy support levels

  • BTC/USD has dipped below the $10,000 and is currently priced at $9,882.
  • There is one healthy resistance level on the upside at $10,085.
Bitcoin price prediction: BTC/USD daily confluence detector shows a lack of healthy support levels
Rajarshi MitraRajarshi MitraIndependent Analyst

Bitcoin had a heavily bearish start to the day as it dropped below $10,000 and is currently priced at $9,880. BTC/USD has fallen from $10,165 to $9,880 so far. Worryingly, the daily confluence detector shows a lack of healthy support levels, so further fall is expected. On the upside, the strongest resistance level lies at $10,085.

BTC/USD daily confluence detector

fxsoriginal

The $10,085 resistance level has the 1-day pivot point support 1, 1-day previous low and 1-week Fibonacci 38.2% 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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