Bitcoin price prediction: BTC/USD plummets below $10,000, where will the bears be stalled? - Confluence Detector
- BTC/USD fell from $10,335 to $9,885 this Tuesday.
- Confluence detector shows a distinct lack of any healthy support levels.
After managing to stay above $10,000 for a total of five days, BTC/USD has once again gone back below $10,000. Over this Tuesday, the price has gone from $10,335 to $9,885. To make matters worse, the daily confluence detector shows a lack of support levels, so further price drop may be expected. BTC/USD has had three bearish days, wherein the price has fallen from $10,755 to $9,885.
BTC/USD daily chart
There are five prominent resistance levels hampering the bulls at - $10,210, $10,150, $10,065, $10,040 and 9,995. The $10,210-level has the daily 23.6% Fibonacci retracement level and the $10,150-level has 50-day simple moving average (SMA 50) curve. The $10,065-level has 1-day previous low and the $10,040-level has the 1-day pivot point support 1 and the 15-min Bollinger band lower curve. Finally, the strongest resistance is at $9,995, which has the weekly 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.
