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Bitcoin price prediction: BTC/USD finally on the rise?

  • No resistance levels of note in the confluence detector.
  • Strong support is at $7,355.
Bitcoin price prediction: BTC/USD finally on the rise?
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD had a bullish Thursday after charting five straight bearish days. The buyers managed to pick the price up from $7,198 to $7,394.75 this Thursday. So far, they have remained in control as the price has gone up further to $7,400. The daily confluence detector shows a lack of strong resistance levels, so further growth may be expected.

BTC/USD - Daily Confluence Detector

fxsoriginal

The $7,355 support level has the 4-hour Previous Low, 15-min Bollinger Band lower curve and one-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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