Rajarshi Mitra
Independent Analyst
- BTC/USD jumped from $7,763.75 to $8,159.70 this Tuesday.
- The daily confluence detector shows two strong resistances at $8,475 and $8,600.
BTC/USD Confluence Detector
BTC/USD re-entered the $8,000-zone for the very first time since November 21, 2019. This Tuesday, the price spiked from $7,763.75 to $8,159.70. So far, in the early hours of Wednesday, the price has gone up to $8,394. The daily confluence detector is showing us two strong resistance levels on the upside at $8,475 and $8,600. $8,475 has the 15-min and one-hour Previoug Highs and the one-month Pivot Point resistance-two, while $8,600 has the one-month Fibonacci 161.8% retracement level. If the bulls can overcome these resistance levels, BTC/USD may actually be trending above $9,000 by EOD.
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