Bitcoin price prediction: Two strong resistance levels are preventing BTC/USD from entering the $7,200 zone - Confluence Detector
- BTC/USD dropped from $7,287 to $7,151.60 this Thursday.
- Healthy support at $7,010 is holding the price up.
BTC/USD daily confluence detector
BTC/USD dropped from $7,287 to $7,151.60 this Thursday, following a bullish Wednesday. Currently, the price has fallen further to $7,130. According to the daily confluence detector, re-entry into the $7,200 zone is prevented by two healthy resistances at $7,215 and $7,255. $7,215 has the 100-day Simple Moving Average (SMA 100) and one-week Fibonacci 23.6% retracement level. $7,255 has the one-day Fibonacci 61.8% retracement level and one-month Fibonacci 23.6% retracement level.
On the downside, a healthy support level is at $7,010, which has the one-day and one-week Pivot Point support one.
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.
