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Bitcoin Price Prediction: BTC/USD consolidates below $9,500 - Confluence Detector

  • BTC/USD fell from $9,504.50 to $9,333.85 this Friday.
  • The daily confluence detector shows two strong resistance levels at $9,545 and $9,600.
Bitcoin Price Prediction: BTC/USD consolidates below $9,500 - Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

BTC/USD bulls took control of the market this Saturday as the price rose from $9,339.65 to $9,423.17. This follows a bearish Friday, wherein BTC/USD fell from $9,504.50 to $9,333.85, as the price consolidated below the $9,500 level. The daily confluence detector shows two strong resistance on the upside at $9,545 and $9,600. $9,600 has the Previous Month high and the Previous Week high. $9,545 has the one-day Previous High, one-day and 4-hour Bollinger Bands. On the downside, the $9,300 support level has the SMA 5, 4-hour Previous Low and one-day Fibonacci 23.6% retracement level. 
 

Author

Rajarshi Mitra

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.

More from Rajarshi Mitra
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