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

BTC/USD daily confluence detector

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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.
 

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.

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