TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

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.
Bitcoin price prediction: Two strong resistance levels are preventing BTC/USD from entering the $7,200 zone - Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

BTC/USD daiily chart

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

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
Share:

Editor's Picks

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network  hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.

Cosmos Hub Price Forecast: ATOM under pressure as bearish momentum accelerates

Cosmos Hub Price Forecast: ATOM under pressure as bearish momentum accelerates

Cosmos Hub steadies near $1.82 at the time of writing on Monday, following a 20% decline the previous week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.

Meme Coins Price Prediction: Dogecoin, Shiba Inu, and Pepe show bearish signals at key levels

Meme Coins Price Prediction: Dogecoin, Shiba Inu, and Pepe show bearish signals at key levels

Meme coins are hovering around key support zones at the start of this week on Monday, after extending losses in the previous week. Dogecoin (DOGE) signals a neutral near-term bias with a slight bearish tilt.

Solana Price Forecast: SOL consolidates amid rising Middle East tensions

Solana Price Forecast: SOL consolidates amid rising Middle East tensions

Solana (SOL) trades around $84 at press time on Monday, coiling further within a consolidation range that keeps the momentum trapped. Institutional interest in Solana resurfaced last week, with inflows of over $44 million capping downside pressure.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.