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Bitcoin price prediction: Path back to $10,000-level hampered by three healthy resistance levels

  • BTC/USD is currently priced at $9,685 following a drop below the $10,000-level.
  • Daily confluence detector shows resistance levels at $9,750, $9,800 and $10,075.
Bitcoin price prediction: Path back to $10,000-level hampered by three healthy resistance levels
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD fell from $10,175 to $9,685 following a heavily Thursday. Currently, it is still trending at around $9,685. The daily confluence detector shows that getting back into the $10,000-zone will require the bulls to negotiate two resistance levels at $9,750 and $9,800. Over the last few days, BTC/USD has continuously flirted with going below the $10,000 range, but the bulls always managed to check the price.

BTC/USD daily confluence detector

fxsoriginal

$9,500 support has the 4-hour previous high and previous week low, while $9,800 has the 4-hour Bollinger band lower curve and 1-week pivot point support 1. The strongest support level is at $10,075, which has the 1-month Fibonacci 23.6% retracement level and the 10-day simple moving average (SMA 10) curve.
 

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.

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