Bitcoin price prediction: BTC/USD lacks the support level it needs to keep it inside $10,000 - Confluence Detector
|- BTC/USD is currently priced at $10,030 after it plunged from $10,856 to $10,025 this Wednesday.
- There are also two healthy resistance levels on the upside, hampering bullish momentum.
BTC/USD had a horror show of a day this Wednesday. The price plunged from $10,856 to $10,025. The asset went from $10,590 to $10,120 in just seven hours. Looking at the daily confluence detector, we can see that BTC/USD will struggle to stay in the $10,000-zone this Thursday. There are also two healthy resistance levels on the upside, hampering bullish momentum.
BTC/USD daily confluence detector
The two resistance levels are at $10,060 and $10,275. $10,060, the strongest resistance level, has the 15-min previous low and 1-month Fibonacci 23.6% retracement level. $10,275 has the 1-day Fibonacci 38.2% retracement level.
On the downside, there are two support levels at $9,900 and $9,845. $9,900 has the 4-hour previous low and 1-day previous low. $9,845 has the 1-week pivot point support 2.
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.