Bitcoin price prediction: BTC/USD lacks powerful support levels, may drop even more - Confluence Detector
- Currently, BTC/USD is trading for $8,390.
- Strong resistance lies at $8,520.
BTC/USD had another strongly bearish day this Wednesday. The price of the asset had gone down from $8,537.35 to $8,46. So far today, the price has fallen further to $8,390. The worrying part is that the daily confluence detector doesn’t show any support levels of note till $8,100. What this essentially means is that of bears gather enough momentum they could bring the price own tp $8,100.
BTC/USD daily confluence detector
The only resistance level of note is at $8,520, which has the one-month pivot point support 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.
