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  • Massive sell-off saw BTC/USD drop from $7,938.70 to $7,468.80 in just 15 mins.
  • Daily confluence detector shows strong resistance at $7,715, $7,700 and $7,430.

BTC/USD experienced a heavily bearish Wednesday, wherein it dropped from $8,028 to $7,473.45. The price has fallen further to $7,418.50 so far this Thursday. Looking at the 15-min chart, we can see that there was a massive sell-off that dropped the price from $7,938.70 to $7,468.80 in just 15 mins. The daily confluence detector shows us that there is strong resistance at $7,715, $7,700 and $7,430. On the downside, the BTC/USD doesn’t have any healthy support levels.

BTC/USD daily confluence detector


$7,715 level has the previous month low, while $7,700 has the one-week Pivot Point support one. Finally, $7,430 has the 15-min previous low and one-week pivot point support two.