Bitcoin Price Prediction: BTC/USD aim for $8,200 - Confluence Detector
|- BTC/USD went up from $8,005 to $8.050 as markets opened this Tuesday.
- BTC/USD lacks strong resistance levels to $9,000.
BTC/USD bulls will be looking to overcome the $8,200 barrier in the short-term. Currently, they have taken the price up from $8,005 to $8,050 as the markets opened this Tuesday. To make matters more exciting, the daily confluence detector indicates that the market lacks strong resistance levels until $9,000.
BTC/USD Daily Confluence Detector
As per the daily confluence detector, a resistance level stack lies from $8,325 to $8,445. The confluences at those levels are - 1-week pivot point resistance 1, 4-hour Bollinger band upper curve, and previous week high.
The support levels lie at $7,900-$7,990, $7,660-$7,740, $7,500, $7,475, and $7,300. The confluences at those levels are:
- $7,900-$7,990: 100-day simple moving average (SMA 100), 15-min Bollinger band middle curve, weekly 23.6% Fibonacci retracement levels, 15-in previous low, SMA 50, hourly Bollinger band middle curve, SMA 200, SMA 5, 4-hour previous high, daily 38.2% Fibonacci retracement level, and hourly previous low.
- $7,660-$7,740: Weekly 38.2% Fibonacci retracement level, hourly Bollinger band lower curve, 4-hour previous low, SMA 50, SMA 200, 4-hour Bollinger band, daily 61.8% Fibonacci retracement level.
- $7,500: 1-month pivot point resistance 3, SMA 10, and 1-day pivot point support 1.
- $7,475: No confluence detected.
- $7,300: Weekly 61.8% Fibonacci retracement level.
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