Bitcoin price prediction: One more push needed before BTC/USD re-enters the $10,000 zone?
- BTC/USD has gone up from $9,530 to $9,664 so far this Friday.
- BTC/USD doesn’t face any resistance level until $10,000.
BTC/USD has gone up from $9,530 to $9,664 in the early hours of Friday as the bulls retained control of the market. This Thursday was a great day for Bitcoin holders as well since the price went up from $9,285 to $9,530. As per the daily confluence detector, BTC/USD can go up to $10,000 without facing any significant resistance level.
BTC/USD daily confluence detector
BTC/USD has only one resistance level of note and that’s at $10,025. That level has the 1-month pivot point resistance 1.
On the downside, BTC/USD is supported by two stacks and two levels of support. The first stack is from $9,590-$9,620 which has the 5-day simple moving average (SMA 5) curve, 4-hour previous high, daily previous high, daily Bollinger band upper curve, 15-min previous low and hourly previous high.
The second stack is from $9,500-$9,530, which sees a confluence of 1-week pivot point resistance 2, 15-min Bollinger band lower curve, daily Fibonacci 23.6% retracement level and 4-hour Bollinger band upper curve.
The two support levels are at $9,465 and $9,315. $9,465-level has SMA 50 and daily Fibonacci 38.2% retracement level, while $9,315-level has 1-day pivot point support 1 and SMA 10.
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.
