- BTC/USD went down from $10,269.35 to $10,215.50 so far this Tuesday.
- Bitcoin has two healthy support levels on the downside, as per the daily confluence detector.
Bitcoin is on course for charting its fifth straight bearish day in a row. So far this Tuesday, the price has gone down from $10,269.35 to $10,215.50. Over the previous five days, the price of BTC/USD has dropped from $10,428.45 to $10,215.50, charting a 2% fall in price. The daily confluence detector shows that there is a stack of resistance levels that stopping re-entry into the $10,300 zone.
BTC/USD daily confluence detector
On the upside, resistance levels lie at $10,265 - $10,285, $10,440 and $10,490. $10,265-$10,285 has the 5-day simple moving average (SMA 5), SMA10, SMA 50, SMA 100, SMA 200, 15-min previous high, 15-min Bollinger band middle curve, 1-day Fibonacci 61.8% retracement level and 1-hour previous high. $10,440 has the SMA 100, while $10,490 has the 1-month Fibonacci 38.2% retracement level.
On the downside, support levels lie at $10,185 and $10,025. $10,185 has the 15-min previous low, 1-hour previous low, SMA 50, 1-day Fibonacci 38.2% retracement level and 1-day Bollinger band middle curve. $10,025 has the 1-month Fibonacci 23.6% retracement level.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.