Bitcoin price prediction: BTC/USD sandwiched between massive resistance and support levels


  • BTC/USD went up from $10,190 to $10,223.45 this Wednesday.
  • The daily confluence detector shows three massive resistance levels on the upside.

Bitcoin managed to have a bullish day after five straight bearish days. So far today, BTC/USD has gone up from $10,190 to $10,223.45. The hourly chart shows us that BTC/USD went up to $10,253, where it met resistance and dropped down to $10,223.45. The daily confluence detector indicates that the price is sandwiched between massive stacks of resistance and support levels.

BTC/USD daily confluence detector

fxsoriginal

On the upside, resistance levels lie at $10,275, $10,300 and $10,430. $10,275 has the five-day Simple Moving Average (SMA 5), SMA 50, SMA 200 and 15-min previous high. $10,300 has the SMA 10 and 1-week Fibonacci 61.8% retracement level. Finally, $10,430 has the four-hour Bollinger band upper curve.

On the downside, the support stack lies between $10,200 - $10,220. It has the SMA 5, SMA 10, SMA 100, SMA 200, one-hour previous low, one-hour Bollinger band middle curve, one -day Bollinger band middle curve, 15-min Bollinger band middle curve and one-day Fibonacci 38.2% retracement level. 
 

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Cryptocurrency News Update: Bitcoin pushes above $9,400, altcoins calm down

BTC/USD has barely changed since the start of the day and gained nearly 1.2% on a day-to-day basis. The first digital asset is changing hands at $9,400 after a move to $9,445 during early Asian hours. 

More Bitcoin News

XLM/USD goes wild, stops short of $0.1000

Stellar (XLM), the 13th largest digital asset, has gone wild on Thursday. The coin hit $0.0990, which is the highest level since September 2019, and dropped to $0.0920 by the time of writing.

More Stellar Lumens News

BCH/USD bulls save strength before a move to $250.00

Bitcoin Cash (BCH) topped at $246.04 on Wednesday and retreated to $243.00 by the time ow writing. Despite some wild price gyrations, BCH has stayed mostly unchanged both on a day-to-day basis and since the beginning of Thursday.

More Bitcoin Cash News

XMR/USD surges over 3% on a daily basis

The crypto market is back in the red after a fruitful trading session on Wednesday. The larger cryptocurrencies are leading with retreat, especially for Bitcoin and Ripple.

More Monero News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

BTC

ETH

XRP