Bitcoin price prediction: Daily confluence detector shows strongest resistance level at $10,450
- BTC/USD is priced at $10,100 following three straight bearish days.
- One healthy support line lies at $10,080.
BTC/USD managed to have a bearish start to Wednesday following three straight bearish days. Over the last three days, the price of BTC/USD went down from $10,495 to $10,100. The hourly breakdown of Tuesday shows that the price fell from $10,190.45 to $9,930 within one hour before the bulls stepped in to correct the price.
BTC/USD daily confluence detector
There are two resistance levels on the upside at $10,280 and $10,450. $10,280 has the 10-day simple moving average (SMA 10), SMA 50, SMA 100 and SMA 200 curves, while $10,450 has the SMA 5, SMA 50 and SMA 200 curves. On the downside, healthy support level lies at $10,080, which has the SMA 5, SMA 10, 1-day pivot point support 1, 15-min Bollinger band middle curve, 1-week Fibonacci 61.8% 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.
