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Bitcoin Price Analysis: BTC/USD falls below $9,000, can critical support level hold strong? – Confluence Detector

  • BTC/USD has a strong resistance level at $9,525.
  • On the downside, healthy support lies at $8,980.
Bitcoin Price Analysis: BTC/USD falls below $9,000, can critical support level hold strong? – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD dropped from $9,029.73 to $8,986, falling below the critical $9,000 psychological level in the process. On the downside, key support lies at $8,980, which needs to hold steady. This level has the 4-hour SMA 5, one-day SMA 5, one-hour SMA 10, 15-min SMA 50 and 15-min SMA 50. On the upside, strong resistance lies at $9,525, which has the Previous week and Previous month highs.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
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