Bitcoin Price Prediction: Bulls must protect support at $9,580 as bears take charge - Confluence Detector


  • BTC/USD bears wrest back control following two straight bullish days.
  • On the upside, there are two strong resistance levels at $9,700 and $9,785.

BTC/USD daily confluence detector

fxsoriginal

BTC/USD fell from $9,705.65 to $9,662.50 in the early hours of Saturday following two consecutive bullish days. The bulls need to protect support at $9,580 to inhibit further downward movement. This $9,580 level has the Previous Month high, 4-hour Previous Low and one-day Previous Low. On the upside, BTC/USD has two healthy resistance levels at $9,700 and $9,785. $9,700 has the SMA 5, SMA 10, SMA 100, 15-min Bollinger Band, 15-min Previous High, one-day Fibonacci 38.2% retracement level and one-week Fibonacci 38.2% retracement level. Finally, $9,785 has the one-day Previous High.
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: Bearish technical signals point to a test of the 6K area

Bitcoin is looking bearish on Wednesday as the price moved 3% lower after rejecting higher levels. The market bounced off the blue trendline and pushed through the 55 and 200 hourly moving averages.

More Bitcoin News

Ripple Price Analysis: Bearish technical signals could seen XRP to 0.1600

Ripple has had a good run at testing upside targets recently but it seems there was no breaking 0.1800 for now. Now it seems the trendline in black on the chart has been broken to the downside.

More Ripple News

ETH/USD locked in a range; short-term recovery capped by $134.40

ETH/USD is changing hands at $132.00, mostly unchanged both on a day-to-day basis and since the beginning of Wednesday. The second-largest digital asset has been moving within a short-term bearish trend amid high volatility. 

More Ethereum News

Monero Price Analysis: XMR pushes higher towards the 50.00 level

Monero has caught a bid late in the US session on Wednesday after trading lower for most of the day. The price has just recently moved through the moving averages (55 & 200) which can be considered a bullish sign. If the black resistance line at 48.20 ...

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Coronavirus will either kill Bitcoin or make it stronger

Bitcoin is about to finish the second positive week in a row. The first digital coin has recovered from $5,680 and came close to psychological $7,000 during the week.

Read the weekly forecast

BTC

ETH

XRP