Bitcoin Price Prediction: Strong resistance at $8,945 prevent re-entry into the $9,000 zone - Confluence Detector
- The buyers took the BTC/USD up from $8,782.45 to $8,812 this Thursday.
- There are two healthy support levels at $8,540 and $8,600.
BTC/USD daily confluence detector
BTC/USD bulls retained control of the market for the second consecutive day. This Thursday, BTC/USD went up from $8,782.45 to $8,812, while the price went up further to $8,861.45 in the early hours of Friday. The daily confluence detector shows a strong resistance level on the upside at $8,945, which has the one-month Fibonacci 23.6% retracement level and SMA 200. On the downside, there are two healthy support levels at $8,540 and $8,600. $8,540 has the 4-hour Bollinger Band and one-month Fibonacci 38.2% retracement level, while $8,600 has no levels detected.
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.
