Search ForexCrunch
  • BTC/USD has gone up from $9,580 to $9,642.25 this Saturday.
  • The daily confluence detector shows one healthy resistance level on path back to $10,000.

After three heavily bearish days, BTC/USD has started its bullish recovery. The bulls got back control this Friday and have managed to sustain it so far. This Saturday the price has gone up from $9,580 to $9,642.25. The hourly breakdown shows that the price fell to $9,430, where it found support and bounced back up to $9,605. BTC/USD met resistance there and fell to $9,510. The bulls then rallied together and put the price up to $9,642.25.

BTC/USD daily confluence detector

fxsoriginal

The daily confluence detector shows us one strong resistance and support level. The resistance level is at $9,660, which has the 1-week Fibonacci 23.6% retracement level, 1-hour previous high and 1-hour Bollinger band upper curve. The $9,325 support level has the 1-day Bollinger band lower curve and previous week low.