- The price dipped from $8,151.38 to $7,984 in just two hours yesterday.
- The daily confluence detector shows a resistance level at $8,185
BTC/USD suffered a heavily bearish Wednesday, wherein its price fell from $8,158 to $7,994, going below the $8,000-level in the process. So far this Thursday, the price has fallen further to $7,975. The hourly breakdown indicates that BTC/USD was trending horizontally before it dropped from $8,151.38 to $7,984 in just two hours. The daily confluence detector shows a resistance level at $8,185, while there are two healthy support levels at $7,775 and $7,715.
BTC/USD daily confluence detector
The $8,185 resistance level has the one-day previous high and one-week Fibonacci 61.8% retracement level. On the downside, the $7,775 support has the one-day pivot point support two and previous week low, while the $7,715 support level has the previous month low.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.