Rajarshi Mitra
Independent Analyst
- BTC/USD is currently trading for $10,400 following three straight bullish days.
- The daily confluence detector shows only one healthy resistance level at $10,675.
BTC/USD is on track for having a fourth bullish day in a row. This Thursday, the bulls took the price up from $10,091.60 to $10,410. Currently, the price has dipped a tiny bit and is trading for $10,400. The daily confluence detector shows the presence of one healthy resistance level at $10,675. This indicates that if the bulls can sustain their momentum, the price will re-enter the $10,500 zone.
BTC/USD daily confluence detector
The $10,675 resistance level has the 1-month Fibonacci 38.2% retracement level. On the downside, there are four extremely strong support levels at $10,275, $10,115, $10,075 and $10,000. The $10,275 level has 1-day Fibonacci 38.2% retracement level, while the $10,115 level sees the confluence of the 1-day 61.8% Fibonacci retracement level and the 1-day Bollinger band middle curve.
The $10,075 is the most robust support level, which has the 1-month Fibonacci 23.6% retracement level and the 10-day simple moving average (SMA 10) curve. The second strongest support level is at $10,000, which has the 1-week Fibonacci 38.2% retracement level and the 1-day pivot point support 1.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Vitalik Buterin slams controversial gambling project ZKasino following scam allegations
Ethereum founder Vitalik Buterin took to Warpcaster, a new type of social network, to condemn ZKasino, a decentralized gambling platform based on Layer 2 Ethereum protocol zkSync.
Starknet jumps 2% after notice inviting specific groups to claim STRK airdrop
Starknet Foundation addressed the groups within the STRK community that were unable to receive the token’s airdrop during the first round. The Layer 2 chain organized an airdrop event in February.
XRP price capped at $0.55 despite retail holdings nearing all-time highs
Ripple price (XRP) failed to break resistance at $0.55 early Wednesday as traders continue to digest Ripple’s recent response to the Securities and Exchange Commission’s (SEC) allegations of illegally selling XRP as a security.
Binance founder Changpeng Zhao could face three-year jail time
US prosecutors are requesting Binance founder and former CEO Changpeng Zhao (CZ) to serve a three-year jail time, according to a Reuters report published Wednesday.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?