Bitcoin Price Prediction: BTC/USD must overcome strong resistance to break past $9,500 - Confluence Detector
- BTC/USD went up from $9,286 to $9,500.90 this Thursday.
- Price is supported by three healthy levels at $9,435, $9,200 and $9,165.
BTC/USD daily confluence detector
BTC/USD went up from $9,286 to $9,500.90 this Thursday and has corrected slightly to $9,414.80 in the early hours of Friday. According to the daily confluence detector, there are two strong resistance levels on the upside at $9,500 and $9,585. $9,500 has the SMA 5, SMA 10, 15-min Previous High, one-day Fibonacci 23.6% retracement level and one-day Bollinger Band. $9,585 has the one-week Pivot Point, 15-min Bollinger band and one-hour Bollinger Band.
On the downside, there are three healthy support levels at $9,435, $9,200 and $9,165. $9,435 has the SMA 5 and one-day Fibonacci 38.2% retracement level, while $9,200 has the one-day Previous Low and Previous Week high. Finally, $9,165 has the one-month Pivot Point resistance-three.
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.
