Bitcoin price prediction: Bulls can overcome $10,000-level again if they gather enough momentum
- BTC/USD went up from $9,765 to $9,905 this Thursday.
- Daily confluence detector shows a lack of any healthy resistance level until $10,000.
BTC/USD has had a bullish session following four straight bearish sessions. The price of the asset went up from $9,765 to $9,905 this Thursday, after charting a high of $10,120. If BTC/USD wants to get back into the $10,000-level, then the bulls will need to rally together and fight back. The daily confluence detector shows a lack of any healthy resistance level until $10,000.
BTC/USD daily confluence detector
The daily confluence detector shows two resistance levels at $10,000 and $10,200. The $10,000-level is the strongest resistance level and has the weekly Fibonacci 38.2% retracement level, while the $10,200-level has the hourly Bollinger band upper curve and 50-day simple moving average (SMA 50).
On the downside, there are two prominent support levels at $9,900 and $9,650. The healthiest support level is at $9,900 and has the confluence of SMA 10, SMA 5 and monthly Fibonacci 61.8% retracement level. The $9,650-level has the weekly 23.6% Fibonacci 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.
