Bitcoin price prediction: BTC/USD bulls face healthy resistance at $10,075 - Confluence Detector
- BTC/USD fell from $10.090 to $10.023.50 in the early hours of Thursday.
- Daily confluence detector shows a lack of healthy support levels on the downside.
Following a heavily bullish Wednesday, BTC/USD has had a bearish start to Thursday. During Wednesday, the price spiked from $9,588 to $10,090, re-entering the $10,000-zone. So far, the price has fallen to $10,023.50 in the early hours of Thursday. The daily confluence detector shows that there is a lack of healthy support levels on the downside.
BTC/USD daily confluence detector
The $10,075 resistance level has the 1-month Fibonacci 23.6% retracement level and the 10-day simple moving average (SMA 10) curve. On the downside, the only support level of note is at $10,015, which has the 15-min previous low, SMA 100 and 1-week Fibonacci 38.2% retracement level.
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.
