Rajarshi Mitra
Independent Analyst
- Earlier this Tuesday, BTC/USD went up from $6,500.70 to $6,768.85.
- The daily confluence detector shows a lack of healthy support levels on the downside.
BTC/USD daily confluence detector
BTC/USD bears took the price down from $6,768.85 to $6,675 this Wednesday. This followed a bullish Tuesday wherein the price jumped from $6,500.70 to $6,768.85.
The daily confluence detector shows a lack of healthy support levels on the downside. On the upside, there is only one resistance level of note at $6,725, which has the Previous Week high and one-day Pivot Point resistance-one. If the bears are to truly take control, there won’t be any healthy support levels to stop the downward movement.
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
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bulls target $100,000 BTC, $2,000 ETH, and $3 XRP
Bitcoin (BTC) is stabilizing around $95,000 at the time of writing on Wednesday, and a breakout suggests gains toward $100,000. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and hovered around their key levels.
Tether mints 3 billion USDT on Ethereum and TRON as markets stabilize
Tether ramps up its minting activity amid surging demand for stablecoins, often signaling heightened trading and liquidity needs. The issuer of the leading stablecoin by market capitalization has minted 2 billion USDT on Ethereum and an additional 1 billion USDT on the TRON network.
SEC delays decision on Franklin Templeton’s spot XRP ETF to June 2025
The Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton’s spot XRP ETF, extending the review period to June 17, 2025. XRP traded at approximately $2.24 at press time, rising 7% over the past week, according to CoinGecko.
Trump Media announces new token launch and native crypto wallet in latest Shareholder letter
Trump Media unveils plans to launch a utility token and crypto wallet to monetize Truth Social and expand its streaming services. Markets react with a 10% drawdown on the Solana-hosted official TRUMP memecoin.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.