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Bitcoin Price Prediction: BTC/USD sandwiched between strong support and resistance stacks - Confluence Detector

  • BTC/USD went up from $7,195.70 to $7,230.50 this Friday.
  • Robust resistance stack lies between $7,250-$7,270.
Bitcoin Price Prediction: BTC/USD sandwiched between strong support and resistance stacks - Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

BTC/USD daily confluence detector

BTC/USD charted two straight bullish days as it went up from $7,195.70 to $7,230.50 this Friday. The price is currently stuck in between strong resistance and support stacks. Resistance stack lies between $7,250-$7,270 and has the one-month Fibonacci 23.6% retracement level, four-hour Previous High, one-day Fibonacci 61.8% retracement level and 200-day Simple Moving Average (SMA 200).

On the downside, the support stack lies between $7,205-$7,225, which has the 15-min Bollinger Band, four-hour Bollinger Band, one-day Bollinger Band, one-week Fibonacci 23.6% retracement level, 15-min Previous Low, one-hour Previous Low, SMA 5, SMA 10, SMA 50 and SMA 200.
 

Author

Rajarshi Mitra

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.

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