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Bitcoin Price Prediction: BTC/USD bulls take charge as daily confluence detector shows lack of strong resistance levels

  • BTC/USD bulls took charge in the early hours of Wednesday as price peaked above $9,800.
  • BTC/USD has one healthy support level at $9750.
Bitcoin Price Prediction: BTC/USD bulls take charge as daily confluence detector shows lack of strong resistance levels
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD went up from $9,779.25 to $9,806.65 in the early hours of Wednesday. As per the daily confluence detector, There are no strong resistance levels of note on the upside. On the downside, healthy support lies at $9,750.

The $9,750 level has the 4-hour SMA 5, one-day SMA 5, one-day SMA 10,  15-min SMA 50, one-hour SMA 50, 4-hour SMA 50, 15-min SMA 200, one-hour SMA 200,  one-week Fibonacci 38.2% retracement level, 15-min Bollinger Band lower curve, one-hour Bollinger Band middle curve and 4-hour Bollinger Band middle curve.

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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