Home Bitcoin Price Prediction: Healthy support at $5,070 keeps BTC/USD above $5,000 – Confluence Detector
Crypto News

Bitcoin Price Prediction: Healthy support at $5,070 keeps BTC/USD above $5,000 – Confluence Detector

FX Street
Updated:
  • The confluence detector shows a lack of strong resistance levels on the upside.
  • BTC/USD fell from $5,346.10 to $5,035.20 this Monday.

BTC/USD daily confluence detector

fxsoriginal

BTC/USD bulls picked up the pace this Tuesday as the price went up from $5,035.20 to $5,225.67. This followed a bearish Monday wherein it fell from $5,346.10 to $5,035.20. The daily confluence detector shows a lack of strong resistance levels on the upside, so you can expect the price to go up even more. On the downside, there is a healthy support level at $5,070, which is keeping the price above the $5,000-level. The $5,070 level has the one-week Fibonacci 23.6% retracement level. 
 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024