Bitcoin price prediction: The bears eke out the bulls again this Thursday, price keeps consolidating above $9,000


  • BTC/USD went down from $9,164.35 to $9,156.25 this Thursday.
  • The daily confluence detector shows us that there are two resistance levels on the upside at - $9,175 and $9,220.

BTC/USD bears have remained in control of the market this Friday as the price went down from $9,156.25 to $9,117.30. Previously, the sellers managed to eke out the buyers this Thursday, as the price fell from $9,164.35 to $9,156.25. The hourly breakdown shows us that price found intraday support at $9,049.50 before flying up to $9,329.15 in just three hours. However, the bears soon regained control and corrected the price around $9,117.30. The daily confluence detector shows us that thee are two resistance levels at $9,175 and $9,220.

BTC/USD daily confluence detector

fxsoriginal

$9,220 has the 50-day Simple Moving Average (SMA 50), SMA 200 and one-week Pivot Point resistance one. $9,175 has the 15-min previous high, SMA 5, SMA 10, one-hour previous high and one-day Fibonacci 38.2% retracement level. On the downside, there is one healthy support level at $9,000, which has the SMA 200.
 

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