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Bitcoin Price Prediction: Daily confluence detector shows a lack of healthy support levels, BTC/USD may drop more

FX Street
Published date:
  • BTC/USD fell from $8,051 to $7,811.50 this Thursday.
  • The confluence detector shows one strong resistance level at $7,840.

BTC/USD daily confluence detector

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BTC/USD is currently priced at $7,812.70. This follows a heavily bearish Thursday, wherein BTC/USD fell from $8,051 to $7,811.50. The daily confluence detector shows a lack of healthy support levels on the downside, hinting that the price may drop even more. On the upside, there is a strong resistance level at $7,840, holding the price down. $7,840 sees a confluence of one-month Pivot Point resistance one, 15-min Bollinger Band, one-day Fibonacci 23.6% retracement level and ten-day Simple Moving Average (SMA 10) curve. 
 

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