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8 August 2022
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Bitcoin

Bitcoin Price Forecast: BTC/USD bulls face immediate resistance at $9,300 – Confluence Detector

  • BTC/USD bulls stepped back in after a bearish Thursday.
  • BTC/USD faces strong stack of resistance between $9,660–$9,725.

BTC/USD daily confluence detector 

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BTC/USD recovered slightly from $9,265.89 to $9,296.50 in the early hours of Friday following a heavily bearish Thursday. The bulls face immediate resistance at $9,300 and a robust stack between $9,660–$9,725.

$9,300 has the 15-min Previous Low, Previous Week Low, 15-min Bollinger Band middle curve, 15-min SMA 10, one-hour SMA 5 and 15-min SMA 5. The $9,660–$9,725 stack has the one-day SMA 5 4-hour SMA 10, one-day SMA 10, 4-hour SMA 50, 15-min SMA 100, one-hour SMA 200, one-month Fibonacci 23.6% retracement level and one-day Fibonacci 61.8% retracement level.

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