Bitcoin Price Prediction: BTC/USD needs to break $9,724 for a short-term breakout – Confluence Detector
BTC/USD lost the 12-EMA and the 26-EMA on the hourly chart and it is now trading below $9,700 again. Unfortunately, bulls also lost both EMAs on the 4-hour chart but the candlestick hasn't closed yet. We already know that $10,000 is a crucial resistance area but where are the short-term resistance level?
Thanks to the Confluence Detector, we can see Bitcoin will encounter a lot of resistance points around $9,724 where the SMA 5, 1-hour, Fibonacci 38.2% 1-week, Middle Bollinger Band, 15-minute and the Fibonacci 23.6%, daily are all converging. This resistance level is close to another one at $9,757 where the previous 4-hour high and the upper Bollinger Band on the 15-minute chart are standing.
Daily Ethereum network fees have surpassed those of the Bitcoin network and the gap is growing, recent data suggests.
Daily Ethereum network fees surpassed those of the Bitcoin (BTC) network for two consecutive days on June 6 and June 7, data obtained by on-chain market analysis firm Glassnode shows.
Litecoin is trading at $46.46 at the time of writing, practically in the middle of the current daily equilibrium pattern. Buyers are waiting for a clear break above $48 and sellers for a drop below $45. It’s important to note that Litecoin is still in a daily uptrend which should favor the bulls coming out of the current pattern. Litecoin is also holding both daily EMAs.
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