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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.

More from Rajarshi Mitra
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