TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Bitcoin Price Prediction: Is $9,000 a distant pipe dream? - Confluence Detector

  • BTC/USD bears take control for the third straight day.
  • The daily confluence detector shows a lack of strong resistance levels on the upside.
Bitcoin Price Prediction: Is $9,000 a distant pipe dream? - Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

BTC/USD fell from $8,723 to $8,695 in the early hours of Friday, charting a third straight bearish day in the process. Currently, it looks like the bulls simply don’t have the momentum needed to break past the $9,000 zone. The daily confluence detector shows us that there is a healthy support level at $8,485, which has the one-month Pivot Point resistance two and Previous Week high. Interestingly, there are no strong resistance levels on the upside. This means that if the bulls do manage to rally together, they will be able to break past the $9,000-level.
 

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

Ripple slides to $1.45 as downside risks surge

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.

Bitcoin slips below $68,000 as defensive stance limits recovery

Bitcoin slips below $68,000 as defensive stance limits recovery

Bitcoin edges lower on Tuesday, extending consolidation in a trading range for over ten days. Market conditions remain defensive, with sustainable recovery depending on renewed spot demand, report says.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

Meme Coins Price Prediction: Bears push Dogecoin, Shiba Inu, Pepe to the ropes

Meme Coins Price Prediction: Bears push Dogecoin, Shiba Inu, Pepe to the ropes

Meme coins, including Dogecoin, Shiba Inu, and Pepe, are under pressure on Tuesday, extending Sunday’s decline. The derivatives data show substantial outflows from DOGE, SHIB, and PEPE futures Open Interest, primarily driven by long-side-skewed liquidations. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC bears aren’t done yet

Bitcoin: BTC bears aren’t done yet

Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.