Bitcoin Price Analysis: BTC/USD trapped between strong support and resistance levels – Confluence Detector
|- BTC/USD bears remained in control in the early hours of Saturday.
- Strong resistance lies at $9,500, while healthy support lies at $9,275.
BTC/USD daily confluence detector
BTC/USD bears remained in control of the market as the price dropped from $9,423.49 to $9,382.50 in the early hours of Saturday. As per the daily confluence detector, BTC/USD has strong resistance at $9,500 and a healthy support level at $9,275.
$9,500 has the 4-hour Previous High, Previous Month high, 15-min Bollinger Band upper curve, 4-hour SMA 10 and 15-min SMA 100. The $9,275 support level has the one-week Fibonacci 38.2% retracement level, 4-hour and one Bollinger Band middle curves.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.