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Bitcoin price prediction: Can the bulls bring the price back inside the $10,000-level?

FX Street
Published date:
  • BTC/USD is currently priced at $9,735.
  • The confluence detector shows massive resistance stack between $9,785-$9,790.

BTC/USD has had a bullish start to the day as the price has gone up from $9,690 to $9,735. This follows a heavily bearish Monday wherein the price of BTC/USD dropped from $10,028.70 to $9,690.20. As per the daily confluence detector, the bulls face a massive stack of resistance between $9,785-$9,790. If they can overcome that, BTC/USD will definitely re-enter the $10,000-zone.

BTC/USD daily confluence detector

fxsoriginal

The $9,785-$9,790 resistance stack has the one-week Fibonacci 23.6% retracement level and one-day Fibonacci 38.2% retracement level.

On the downside, there are two prominent support levels at $9,730 and $9,615. $9,730 has the one-week pivot point support 1, while $9,615 has the four-hour previous low and one-day previous low.
 

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