Rajarshi Mitra
Independent Analyst
- BTC/USD is currently trading for $9,295.
- BTC/USD bulls have earlier failed at the $9,335 resistance level.
BTC/USD is currently trading for $9,295 in the early hours of Thursday, following a bullish Wednesday. The bulls took the price up from $9,078.35 to $9,265 over this Wednesday. Before that, BTC/USD enjoyed six straight bullish days from June 12th to June 17th, where the price went up from $7,920 to $9,335 before it met massive resistance. Upon encountering the resistance, the price went down from $9,335 to $9,078.25 before it recovered this Wednesday.
BTC/USD daily confluence detector
The BTC/USD daily confluence detector shows two resistance levels at $9,335 and $9,500. The $9,335 level has the hourly previous high, 4-high previous high and daily previous high. The $9,500 level, which is a stronger resistance level than the $9,335 level, has the 1-week pivot point resistance 2 and 1-day pivot point resistance 2.
The support levels are at $9,225, $9,160 and $9,100-$9,125. $9,225 has the daily 38.2% Fibonacci retracement level and 5-day simple moving average (SMA 5) curve. $9,160 has the SMA 10, SMA 100 and daily 61.8% Fibonacci retracement level. Finally, the stack from $9,100-$9,125 has the SMA 5, 1-day pivot point support 1, previous month high and 1-week pivot point resistance 1.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Crypto traders brace for short-term volatility with $2.4 billion options expiry on Friday
Bitcoin and Ethereum options market looks bullish on Friday, according to data from intelligence tracker Greeks.live. The firm said it has identified two Bitcoin calls that show an underlying bullish sentiment among market participants.
XRP recovers from week-long decline following Ripple’s response to SEC motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
Lido adds 4% gains as protocol rolls out first step towards decentralization
Lido takes the first batch of simple DVT validators to live, a step taken to decentralize the protocol. Lido leveraged technology to expand the protocol to multiple node operators, inviting both solo and community stakers.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.