Bitcoin Price Prediction: BTC/USD zooms above $8,900, can the bulls break above $9,000? – Confluence Detector

  • Bitcoin nears the $9,000 psychological level amid renewed bullish action.
  • Fundamentals and technical levels seem ripe for a cross above $9,000.

Bitcoin is likely to close the week in a bullish phase after an incredible few days. BTC/USD is up 2.81% on the day after pushing from $8,714 (opening value) to $8,991.39 (intraday high). Most analysts are convinced that the dynamics are positive for BTC to make a comeback above the psychological $9,000 level.

The world’s largest and most traded cryptocurrency has a market cap of $162 billion according to the data on CoinMarketCap. The last 24 hours have posted $31.9 billion in trading volume across the listed exchanges. BTC’s dominance is falling slightly below the levels recorded in December. In other words, altcoins seem to be gaining traction against Bitcoin in 2020.

Bitcoin confluence levels


Bitcoin confluence detector clearly shows that the worst is in the rearview. What the bulls need is to gather strength and push above $9,000 in the short-term, preferably in the next sessions on Friday.

Meanwhile, a minor resistance zone at $9,033 seems to be holding BTC back. The previous high 15-minutes and the 161.8% one-day meet here to highlight the resistance. The only other prominent resistance is the area at $9,220 and hosts the pivot point one-week resistance two and the pivot point one-month resistance three.

Although, resistance has greatly been suppressed on the upside, support has been strengthened. It shows that Bitcoin is fundamentally ready to trade above $9,000. In the event that bears forge a strong reversal mission, traders should be on the lookout for support areas starting from $8,752, $8,659, and $8,472.

Here are more confluence levels



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 & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD approaches $7,000, bulls may be disappointed once again

BTC/USD resumed the upside trend after a consolidation around $6,700 during the weekend. At the time of writing, BTC is changing hands at $6,930 and the upside momentum is gaining traction.

More Bitcoin News

Ripple Price Analysis: XRP/USD may return to $0.1800 before another bullish assault

XRP/USD is changing hands at $0.1850 with 2.6% of gains since the start of the day. The third-largest digital asset with the current market value of $8 billion has been moving within a strong bullish trend amid expanding volatility. 

More Ripple News

ETH/USD leaves $154.00 behind, no reversal in sight

ETH/USD jumped above $154.00 after the bulls managed to clear psychological $150.00. The second-largest digital asset has gained over 7% since the beginning of the day and 5% in the recent 24 hours amid Bitcoin-led recovery on the cryptocurrency market.

More Ethereum News

Cryptocurrency market update: Major cryptos remain on track to post weekly gains

Ethereum (ETH/USD) failed to hold above $150 earlier in the week but is still up 15.4% on a weekly basis at $143.50. $150 (Fibonacci 38.2% retracement of mid-March fall) aligns as the first critical resistance followed by $153.50 (Mar. 20 high).

More Ethereum News


Bitcoin Weekly Forecast: BTC breaks its ties with stocks, strives to return its safe-haven status

Most part of the week Bitcoin has been on the recovery path. Slowly but surely the coin left $6,500 behind and even tested waters above $7,000.

Read the weekly forecast