TRENDING:
Fed interest rate
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Technical Analysis: Bulls in control as BTC/USD looks to break past $6,500 – Confluence Detector

  • BTC/USD jumped up from $5,872.70 to $6,414.40, following a brief drop below the $6,000 level.
  • BTC/USD has one healthy support on the downside at $6,300.
Bitcoin Technical Analysis: Bulls in control as BTC/USD looks to break past $6,500 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

After a brief drop below the $6,000 level, BTC/USD bulls took back control this Monday by taking the price up from $5,872.70 to $6,414.40. So far this Tuesday, the price has gone up further to $6,475.65. The daily confluence detector shows a lack of resistance levels on the upside, so expect the price to go up even more. On the downside, there is only one healthy support level at $6,300, which has the SMA 100 and 4-hour Bollinger Band.


 

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.

More from Rajarshi Mitra
Share:

Editor's Picks

Ondo: Multiple trendline rejections, fading bullish momentum warn of a steeper correction

Ondo: Multiple trendline rejections, fading bullish momentum warn of a steeper correction

Ondo price hovers around $0.3700 on Wednesday, maintaining a broader corrective phase under the influence of a resistance trendline. Retail demand for ONDO remains firm, driven by the tokenization trend for traditional stocks and other Real World Assets.

Bitcoin Price Forecast: BTC steadies near $66,000 as markets await first Warsh-led Fed decision

Bitcoin Price Forecast: BTC steadies near $66,000 as markets await first Warsh-led Fed decision

Bitcoin steadies near $66,000 as investors await the Federal Reserve’s interest rate decision. Institutional demand shows slight improvement as spot Exchange Traded Funds recorded a mild inflow on Tuesday, after weeks of outflows.

Hyperliquid open interest surges 32% in week: Is $80 HYPE next?

Hyperliquid open interest surges 32% in week: Is $80 HYPE next?

Hyperliquid’s native token HYPE rallied 44% over five days, hitting a $76.90 all-time high on Tuesday. Despite the pullback to $73, open interest on HYPE futures reached the $3 billion mark, signaling growing institutional demand.
Meme Coins Price Prediction: DOGE near breakout, SHIB at ceiling and PEPE leads meme coin recovery

Meme Coins Price Prediction: DOGE near breakout, SHIB at ceiling and PEPE leads meme coin recovery

Meme coins are approaching a key technical level on Wednesday, which could determine the next directional bias. Dogecoin (DOGE) struggles to overcome a major resistance level, and Shiba Inu (SHIB) recovery lost momentum near a crucial barrier. Meanwhile, Pepe (PEPE) extends its rally for a sixth straight day, raising the prospects of further upside if momentum persists.
Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.