Rajarshi Mitra
Independent Analyst
- There are three strong resistance levels at $9,715, $9,740 and $9,800.
- On the downside, there is a healthy support level at $9,585.
BTC/USD daily confluence detector
BTC/USD bears retained control of the market as the price dropped from $9,662 to $9,592.80. This follows a heavily bearish Monday, where the price plummetted from $9,971.45, following a brief flirtation with the $10,000-level. The daily confluence detector shows us that there are three strong resistance levels at $9,715, $9,740 and $9,800. $9,715 has the one-day and one-week Fibonacci 38.2% retracement levels, while $9,740 has the SMA 5. The $9,800 has the SMA 10, SMA 50 and SMA 200.
On the downside, there is healthy support at $9,585, which has the 4-hour Previous Low and the Previous Month high.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
XRP corrects as traders weigh possibility of SEC appealing Ripple ruling
Ripple (XRP) trades with minor losses on Friday as holders weigh the impact of a likely appeal by the US Securities & Exchange Commission (SEC) in the Ripple lawsuit.
Bitcoin Weekly Forecast: $70,000 mark on sight as bulls remain strong
Bitcoin has risen around 3% so far this week, breaking above its range upper limit of $64,700. This gain was supported by increased institutional demand for ETFs, which recorded inflows of more than $612 million this week.
Crypto Today: Bitcoin, Ethereum and XRP steady above major support levels, Worldcoin leads AI token gains
Bitcoin, Ethereum trade above key supports at $65,000 and $2,600, as of Friday. XRP corrects slightly, holding steady above $0.5892. Worldcoin climbs 3% as Polymarket bet shows a 66% chance of OpenAI becoming a “for profit” entity before April.
Top 3 meme coins Dogecoin, Shiba Inu and Pepe: Rally continues
The prices of the top 3 meme coins by market capitalization, Dogecoin, Shiba Inu and Pepe, extend their gains on Friday after a rally on Thursday. The technical outlook for the three coins hints at further gains ahead as they all broke above bullish technical patterns.
Bitcoin Weekly Forecast: $70,000 mark on sight as bulls remain strong
Bitcoin (BTC) has risen around 3% so far this week, breaking above its range upper limit of $64,700.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.