Bitcoin Price Analysis: BTC/USD has clear path till $9,000 before it faces any resistance levels of note – Confluence Detector
- BTC/USD has two strong resistance levels at $9,130 and $9,225.
- On the downside, there are three healthy support levels at $8,580, $7,975 and $7,840.
BTC/USD daily confluence detector
BTC/USD dropped from $8,790 to $8,661.75 this Thursday. As per the daily confluence detector, there are two resistance levels on the upside at $9,130 and $9,225, giving the bulls a clear path to the $9,000 psychological level. $9,130 has the one-month Pivot Point resistance-one, while $9,225 has the Previous Month high.
On the downside, the price is ably supported at $8,580, $7,975 and $7,840. $8,580 has the one-day Fibonacci 38.2% retracement level, one-hour SMA 50 and 15-min SMA 200. $7,975 has the one-week Pivot Point resistance-one and one-day SMA 5, while $7,840 has the Previous Week high, 4-hour SMA 50 and one-hour SMA 200.
Author
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.
