Search ForexCrunch
  • BTC/USD is currently trading for $12,045 as markets opened this Thursday.
  • The daily confluence detector shows a lack of any healthy support levels.

BTC/USD is currently trading for $12,045 as markets opened this Thursday. This follows a bearish Wednesday, wherein the bears took over the market as soon as BTC/USD crossed $13,000 and took the price down to $12,080. The daily confluence detector shows a lack of healthy support levels, indicating that the price may fall even more.

BTC/USD daily confluence detector

The confluence detector shows four healthy resistance levels at $12,200, $12,275, $12,350 and $12,575. The $12,200 level sees a confluence of 4-hour Bollinger band middle curve, previous week high and 15-min previous high. The $12,275 level has the 10-day simple moving average curve (SMA 10) and 1-week pivot point resistance 1. The strongest resistance level is at $12,350, which has the monthly 23.6% Fibonacci retracement level. Finally, the $12,575 level sees the SMA 10 curve and the daily 38.2% Fibonacci retracement level.