Bitcoin price prediction: BTC/USD faces a stack of resistance on the path back to $10,300

  • 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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Chart Analysis: Symmetrical triangle breakout to power BTC/USD above $9700

BTC/USD has charted a symmetrical triangle breakout in the last hour, opening doors for a test of the pattern target at 9746. Despite the bullish breakout, its likely to remain an uphill task for the bulls to achieve the target, given a bunch of healthy resistance levels. 

More Bitcoin News

XRP/USD: Path of least resistance appears to the downside

XRP/USD is struggling to extend its recovery beyond 0.20 on Saturday, as the bulls remain in a wait-and-see for the fourth straight session. While extending the range play, the bears are seen fighting back control, as suggested by the near-term technical set up.

More Ripple News

BCH/USD: Bulls eye $280 amid falling wedge breakout

Bitcoin Cash (BCH/USD) is consolidating the latest uptick to a daily high of 257.50, having recovered losses following a dip to 253.47. The No. 5 coin has charted a bullish breakout on the hourly chart. The bulls look to extend the upside break to $280.   

More Bitcoin Cash News

Crypto Market Update: Ethereum outperforms its main rivals on the road to recovery

Crypto bulls are trying hard to extend the recovery on Saturday. Ethereum outperforms Bitcoin and Ripple, looking to settle the week with 4.50% gains. The top 2 widely traded coins are poised for additional upside.  

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC/USD needs to go down again before it goes up

After a head-spinning volatility at the beginning of the week, BTC/USD settled above $9,600 with minor gains on a week-on-week basis. A shall Doji candle on a weekly chart is an alarming signal that the bulls are exhausted by uncertainty and large price swings. 

Read the weekly forecast