Bitcoin Price Prediction: Healthy support at $5,070 keeps BTC/USD above $5,000 - Confluence Detector
|- The confluence detector shows a lack of strong resistance levels on the upside.
- BTC/USD fell from $5,346.10 to $5,035.20 this Monday.
BTC/USD daily confluence detector
BTC/USD bulls picked up the pace this Tuesday as the price went up from $5,035.20 to $5,225.67. This followed a bearish Monday wherein it fell from $5,346.10 to $5,035.20. The daily confluence detector shows a lack of strong resistance levels on the upside, so you can expect the price to go up even more. On the downside, there is a healthy support level at $5,070, which is keeping the price above the $5,000-level. The $5,070 level has the one-week Fibonacci 23.6% retracement level.
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.