Bitcoin Price Prediction: BTC/USD falls after failing at $10,500 level, settles around $10,200 - Confluence Detector
- On the upside, there are two strong resistance levels at $10,345 and $10,265.
- There is one healthy support level at $10,185.
BTC/USD daily confluence detector
After a brief flirtation with the $10,500 level, BTC/USD dropped to $10,235.58 from $10,352.25 this Thursday. So far, in the early hours of Friday, the price has fallen further to $10,227.48. There is a healthy support level at $10,185, which is holding the price up. This level has the 15-min Bollinger Band, 4-hour Bollinger Band, one-day Previous Low, 4-hour Previous Low and SMA 5.
On the upside, there are two strong resistance levels for the bulls to overcome at $10,265 and $10,345. $10,265 has the one-hour Bollinger Band, one-hour Previous High, one-day Fibonacci 38.2% retracement level and SMA 5. Finally, $10,345 has the SMA 50, SMA 200 and one-month Pivot Point resistance-one.
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.
