Bitcoin price prediction: Bulls continue the recovery process, will a $10,000 re-entry be possible?
- BTC/USD has gone up from $9,580 to $9,642.25 this Saturday.
- The daily confluence detector shows one healthy resistance level on path back to $10,000.
After three heavily bearish days, BTC/USD has started its bullish recovery. The bulls got back control this Friday and have managed to sustain it so far. This Saturday the price has gone up from $9,580 to $9,642.25. The hourly breakdown shows that the price fell to $9,430, where it found support and bounced back up to $9,605. BTC/USD met resistance there and fell to $9,510. The bulls then rallied together and put the price up to $9,642.25.
BTC/USD daily confluence detector
The daily confluence detector shows us one strong resistance and support level. The resistance level is at $9,660, which has the 1-week Fibonacci 23.6% retracement level, 1-hour previous high and 1-hour Bollinger band upper curve. The $9,325 support level has the 1-day Bollinger band lower curve and previous week low.
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.
