BTC/USD is currently priced at $9,485.
Confluence detector shows a lack of healthy support levels.
BTC/USD continued to consolidate in a flag formation. This Monday, the price of the asset fell from $9,550 to $9,450. The daily confluence detector shows that the bulls will face considerable resistance to go past the $9,500 zone. With the lack of any healthy support levels, the bulls will need to stay strong.
BTC/USD daily confluence detector
The stack of resistances lies between $9,515-$9,545. Within that stack, we have a confluence of - 15-min Bollinger band upper curve, 4-hour previous high, 100-day simple moving average (SMA 100) curve, previous week low, SMA 50, hourly Bollinger band middle curve, 15- previous high, 1-hour previous high and SMA 10.
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.