Bitcoin Price Prediction: Strong stack of support between $7,255 and $7,275 is holding the price up
- Healthy resistance lies at $7,430.
- BTC/USD went down from $7,512.75 to $7,315 this Monday.
BTC/USD Daily Confluence Detector
BTC/USD is on course of charting two bearish days in a row. This Monday, the price of the asset fell from $7,512.75 to $7,315 and has fallen further to $7,292.15. The daily confluence detector shows us that there is a healthy resistance level at $7,430, while a robust stack of support lies between $7,255 and $7,275.
$7,430 has the one-day Fibonacci 38.2% retracement level, while the stack of support between $7,255 and $7,275 has the five-day Simple Moving Average (SMA 5), SMA 100, four-hour Previous Low, one-day Previous Low, 15-min Bollinger Band lower curve and one-month Fibonacci 23.6% retracement level.
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.
