Bitcoin Price Analysis: BTC/USD has a bearish start but price cleared for takeoff – Confluence Detector
|- BTC/USD faces no strong resistance levels on the upside.
- Healthy support for the price lies at $8,700
BTC/USD daily confluence detector
BTC/USD fell from $9,210.14 to $9,194 in the early hours of Thursday, following a heavily bullish Wednesday wherein it jumped back above the $9,000 zone. Despite the bearish action, the price seems set for a takeoff. There is a lack of a strong resistance level on the upside, while healthy support lies at $8,700, which has the one-day Previous Low, one-month Fibonacci 23.6% retracement level, one-day Pivot Point support-one and one-week Pivot Point support-one.
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