Bitcoin Price Prediction: Two healthy support levels are keeping BTC/USD above $9,000 - Confluence Detector
- There are two strong resistance levels on the upside at $9,425 and $9,600.
- BTC/USD went up from $8,890 to $9,401 this Tuesday.
BTC/USD daily confluence detector
After three immensely bullish days, the bears stepped back in to correct the BTC/USD market. This Tuesday, the buyers spiked BTC/USD from $8,890 to $9,401, before the bears adjusted the price to $9,330.45 in the early hours of Wednesday. The confluence detector shows us that there are two strong resistance levels on the upside at $9,425 and $9,600. $9,425 has the one-week Pivot Point resistance-two and one-day Pivot Point resistance-one.
On the downside, there are two healthy support levels at $9,300 and $9,155 holding the price up. $9,300 has one-day Fibonacci 23.6% retracement level and one-day Bollinger band, while $9,155 has the SMA 10 and one-month Pivot Point resistance-three.
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.
