Bitcoin price prediction: No strong support levels are keeping BTC/USD in the $8,000 zone - Confluence Detector
- BTC/USD dropped from $8,500 to $8,167.25 this Monday.
- There is a stable support level at $7.905.
BTC/USD had a dramatic fall this Monday, going down from $8,500 to $8,167.25. So far this Tuesday, it has gone up a bit to $8,172. There are five resistance levels on the upside at $8,185, $8,265, $8,340, $8,375 and $8,455. On the downside, there is a stable support level at $7,905. There are no support levels above the $8,000-level, keeping the price up.
BTC/USD daily confluence detector
$8,185 has the five-day Simple Moving Average (SMA 5), 15-min previous high and one-week Pivot Point support one. $8,265 has the one-day Bollinger Band, 4-hour Bollinger Band an SMA 10, while $8,340 has the one-day Fibonacci 61.8% retracement level and SMA 5. $8,375 has the previous week low and SMA 100 and $8,455 has the one-day Pivot Point resistance one, SMA 50, SMA 200 and 4-hour Bollinger Band middle curve.
The $7,905 support level has the one-week pivot point support two.
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.
