- BTC/USD fell from $10,635 to $10,587 this Wednesday.
- The daily confluence detector shows two healthy support levels keeping the price in the $10,000-zone.
BTC/USD had a bearish Wednesday as the bulls lost steam around the $10,650-mark. The price dropped slightly from $10,635 to $10,587 over the day. This Thursday, the price has gone down further to $10,565. The hourly breakdown shows us that the price fell to $10,400 before it bounced back up to$10,715. That was where Bitcoin met resistance and ultimately corrected itself around $10,587. The daily confluence detector shows two healthy support levels keeping the price in the $10,000 zone.
BTC/USD daily confluence detector
On the upside, there is a resistance level at $10,680, which has the 1-day Fibonacci 61.8% retracement level and the previous week high. On the downside, the two healthy support levels are at $10,425 and $10,175. $10,425 has the 50-day simple moving average (SMA 50) and the $10,175 has the SMA 100, 1-day pivot point support 2, and 1-week Fibonacci 61.8% retracement level.
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