Rajarshi Mitra
Independent Analyst
- BTC/USD went up from $5,039 to $5,340.25 this Tuesday before the bears took control this Wednesday.
- The daily confluence detector has three healthy support levels on the downside at $5,335, $5,315 and $5,285.
BTC/USD daily confluence detector
BTC/USD bulls have suddenly woken from their slumber as Wednesday comes to a close. The price has gone up from $5,340.25 to $5,363 and will look to overcome resistance at $5,435. This level has the one-day Fibonacci 23.6% retracement level and 15-min Bollinger Band upper curve.
On the downside, there are three healthy support levels at $5,335, $5,315 and $5,285. $5,335 has the SMA 5 and one-day Fibonacci 38.2% retracement level, while $5,315 has the SMA 5 and SMA 10. Finally, $5,285 has the one-hour Bollinger Band middle curve, SMA 50 and SMA 200.
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.