- BTC/USD has had a bearish start to Thursday following two straight overwhelmingly bearish days.
- BTC/USD is currently trading for $10,086.
Bitcoin has had an overwhelmingly bearish day wherein its price dropped from $10,771 to $10,135, reaching a low of $9,856. Over the last two days, Bitcoin has canceled out the gains made by the bulls in the five days before that. The daily confluence detector shows that there is a healthy support level at $10,075, which the bulls will need to defend to prevent further drops below $10,000.
BTC/USD daily confluence detector
There is one prominent resistance level at $10,475. It has the 50-day simple moving average (SMA 50) curve. On the downside, there are two support levels at $10,075 and $9,975. The $10,075 level has the 15-min previous low and 1-month Fibonacci 23.6% retracement level, while the $9,975 level has the 1-week Fibonacci 23.6% retracement level and 1-hour previous low.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.