Home Bitcoin price prediction: BTC/USD may drop below $7,500 as support exists at $7,490 – Confluence Detector
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Bitcoin price prediction: BTC/USD may drop below $7,500 as support exists at $7,490 – Confluence Detector

FX Street
Updated:
  • BTC/USD had a heavily bearish Thursday wherein the price dropped from $8,088.50 to $7,617.15.
  • There are no healthy resistance levels on the upside.

BTC/USD had a heavily bearish Thursday, wherein the price dropped from $8,088.50 to $7,617.15, going below $8,000 in the process. So far, BTC/USD has recovered to $7,649.50 this Friday. The daily confluence detector paints a pretty bleak picture as there are no healthy support levels above the $7,500-mark. On the plus side, there are no healthy resistance levels either, indicating that if the bulls manage to rally together, they won’t face many obstacles.

BTC/USD daily confluence detector

fxsoriginal

There are two healthy resistance levels at $7,490 and $7,415. $7,490 has the one-month Pivot Point support one, while $7,415 has the one-hour Bollinger Band lower curve and the one-week Pivot Point support three.

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