Bitcoin price prediction: BTC/USD recovers following a late bullish rally, faces resistance at $10,275 - Confluence Detector


  • BTC/USD has gone down from $10,273 to $10,225.15 so far today.
  • Massive support lies at $10,075 as per the confluence detector.

After BTC/USD went below $10,000, the bulls rallied together to bring the price up to $10,273 this Thursday. The hourly breakdown of Thursday shows us that the price found support at $9,800 and jumped up to $9,880. After trending horizontally for a bit, BTC/USD spiked up to $10,273 to end the day on a high. However, the bears regained control today and have brought the price down to $10,225.15.

BTC/USD daily confluence detector

fxsoriginal

The daily confluence detector shows us that there are two healthy resistance levels at $10,275 and $10,445. $10,275 has the 5-day Simple Moving Average (SMA 5), SMA 10, 15-min previous high and 15-min Bollinger Band middle curve, while $10,445 has the 4-hour Bollinger Band upper curve.

The only support level of note is at $10,075, which has the 1-day Fibonacci 38.2% retracement level and 1-week Fibonacci 38.2% retracement level.
 

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