RATE Group | Bitcoin Price Prediction: BTC/USD bulls face an uphill task as five strong resistance le…
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Bitcoin Price Prediction: BTC/USD bulls face an uphill task as five strong resistance le…

26 Feb Bitcoin Price Prediction: BTC/USD bulls face an uphill task as five strong resistance le…

Posted at 11:15h in Bitcoin News by

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  • BTC/USD dropped from $9,662 to $9,307.85 this Tuesday.
  • There are no healthy support levels on the downside.

BTC/USD daily confluence detector

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BTC/USD had a heavily bearish Tuesday as the price dropped drastically from $9,662 to $9,307.85. It has fallen further to $9,300 in the early hours of Wednesday. The daily confluence detector has no healthy support levels on the downside, which are holding the price up. On the upside, there are five strong resistance levels which the bulls will need to overcome. These levels are at $9,325, $9,350, $9,550, $9,580 and $9,700. 

$9,325 has the Previous Week low and 4-hour Bollinger Band, while $9,350 has the one-day Bollinger Band, SMA 5, 15-min Previous Low and one-day Fibonacci 23.6% retracement level. $9,550 has the one-week Fibonacci 23.6% retracement level and SMA 200. The strongest resistance level is at $9,580, which has the Previous Month high and one-day Pivot Point resistance-one. Finally, $9,700 has the…

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