Bitcoin Price Prediction: Lack of healthy support may force BTC/USD to fall even more – Confluence Detector
- BTC/USD bears stepped in following a hattrick of bullish days.
- The daily confluence detector shows a lack of healthy support levels on the downside.
- BTC/USD faces strong resistance at $9,775.
BTC/USD daily confluence detector
BTC/USD bears stepped in following three consecutive bullish days as the price fell from $9,783 to $9,698.35. The daily confluence detector shows a lack of healthy support levels, so the price may fall even more.
On the upside, strong resistance lies at $9,775. This level has the one-hour SMA 5, 4-hour SMA 5, 15-min SMA 10, 4-hour SMA 10, one-day SMA 10, 15-min Previous High, one-hour Previous Low, one-week Fibonacci 38.2% retracement level, one-day Fibonacci 61.8% retracement level, 15-min and one-hour Bollinger Band middle curves.
Author
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.
