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8 August 2022
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Bitcoin Price Forecast: BTC/USD bulls pushed down by strong resistance levels – Confluence Detector

  • BTC/USD daily confluence detector shows a lack of healthy support levels.
  • On the upside, there are two strong resistance levels at $9,475 and $9,700.

BTC/USD daily confluence detector


BTC/USD went down from $9,463.70 to $9,432 in the early hours of Saturday. The daily confluence detector shows a lack of healthy support levels, so further price drops can be expected. On the upside, there are two strong resistance levels at $9,475 and $9,700.

$9,475 has the one-hour SMA 5, 4-hour SMA 5, 15-min SMA 10, one-hour SMA 10, 15-min SMA 50, 15-min Bollinger Band middle curve, one-hour Bollinger Band middle curve, 15-min Previous Low, one-hour Previous Low and 4-hour Previous High. The $9,700-level has the one-hour SMA 100, one-month Fibonacci 23.6% retracement level, one-day Fibonacci 61.8% retracement level and 4-hour Bollinger Band middle curve.

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