BTC/USD: Price weighed below huge stacks of resistance – Confluence Detector

0
  • BTC/USD bulls face a big stack of resistance from 3,550 to $3,650.
  • BTC/USD is currently trading at $3,564 and fall all the way to $3,350 before meeting any significant support line.

BTC/USD bulls face a massive stack of resistance up ahead according to the daily confluence detector. Currently trading at $3,564, the price could fall to $3,350 before meeting any significant support line.

BTC/USD daily confluence detector

According to the daily confluence detector, the resistance stack lies between $3,650 and $3,550. The confluences in this area are as follows: Daily 161.8% Fibonacci retracement level, 50-day simple moving average (SMA 50), monthly 38.2% Fibonacci retracement level, daily pivot point, weekly 23.6% Fibonacci retracement level, hourly Bollinger band upper curve, daily previous high, SMA 5, 4-hour Bollinger band upper curve, SMA 10, daily 61.8% Fibonacci retracement level, SMA 50, SMA 200, SMA 100, and hourly Bollinger band middle curve.

The support levels are at $3,350 and $3,150. The confluences at those levels are:

  • $3,350: Previous week low and previous month low.
  • $3,150: Previous year low and monthly pivot point.
     
Get the 5 most predictable currency pairs

About Author

Comments are closed.