Bitcoin Price Prediction: Bulls must protect support at $9,580 as bears take charge - Confluence Detector
|- BTC/USD bears wrest back control following two straight bullish days.
- On the upside, there are two strong resistance levels at $9,700 and $9,785.
BTC/USD daily confluence detector
BTC/USD fell from $9,705.65 to $9,662.50 in the early hours of Saturday following two consecutive bullish days. The bulls need to protect support at $9,580 to inhibit further downward movement. This $9,580 level has the Previous Month high, 4-hour Previous Low and one-day Previous Low. On the upside, BTC/USD has two healthy resistance levels at $9,700 and $9,785. $9,700 has the SMA 5, SMA 10, SMA 100, 15-min Bollinger Band, 15-min Previous High, one-day Fibonacci 38.2% retracement level and one-week Fibonacci 38.2% retracement level. Finally, $9,785 has the one-day Previous High.
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.