Home Bitcoin Price Analysis: BTC/USD suffers from lack of healthy support levels, falls below $6,400 – Confluence Detector
Crypto News

Bitcoin Price Analysis: BTC/USD suffers from lack of healthy support levels, falls below $6,400 – Confluence Detector

FX Street
Updated:
  • BTC/USD had gone up from $6,406.50 to $6,423 this Tuesday.
  • BTC/USD has three strong resistance levels at $6,490, $6,510 and $6,530.

BTC/USD daily confluence detector

fxsoriginal

BTC/USD has fallen from $6,423 to $6,305.25 in the early hours of Wednesday. The daily confluence detector shows a lack of healthy support levels, so the price is expected to drop even more. On the upside, strong resistance lies at $6,490, $6,510 and $6,530. $6,490 has the one-day Fibonacci 23.6% and one-week Fibonacci 38.2% retracement levels. $6,510 has the no confluences detected while $6,530 has the one-day Previous high, one-hour Bollinger band upper curve and one-day Pivot Point resistance-one.
 

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