Bitcoin price prediction: BTC/USD slips near $10,000, bulls must work their way up again - Confluence Detector
- BTC/USD is currently trading for $9,670 as markets opened this Thursday.
- Daily confluence detector shows two healthy resistance levels at $9,900 and $10,000.
BTC/USD enjoyed a bullish Wednesday, wherein the price went up from $9,450 t0 $9,680. At one point, the price went up to as much as $9,960, but the bulls failed to keep up the momentum and then dropped to $9,670. The bulls face two healthy resistance levels at $9,900 and $10,000 as per the daily confluence detector.
BTC/USD daily confluence detector
The $9,900 resistance level has the monthly Fibonacci 61.8% retracement level while the $10,000 level has the 1-day previous high, 50-day simple moving average and the 1-day 38.2% Fibonacci retracement level. On the downside, the only support level of note is at $9,615, which has the 1-week Fibonacci 161.8% retracement level.
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.
