Bitcoin Price Prediction: BTC/USD has a clear path back to the $9,000 zone – Confluence Detector

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  • BTC/USD jumped from $8,107 to $8,815 this Tuesday.
  • The Confluence Detector shows two healthy support levels at $8,620 and $8,480.

BTC/USD daily confluence detector

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BTC/USD has had a bearish start to this Wednesday after an exceptionally bullish Tuesday, wherein the price jumped from $8,107 to $8,815. Presently, the price has dropped to $8,730.50, but the daily confluence detector shows a complete lack of strong resistance levels on the upside. In other words, if the bulls regain their momentum, they will push the price above the $9,000-level. 

On the downside, there are two healthy support levels at $8,620 and $8,480. $8,620 has the one-month Fibonacci 161.8% retracement level and the one-day Bollinger Band upper curve, while $8,480 has the one-month Pivot Point resistance two and the Previous Week high.
 

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