RATE Group | Bitcoin price prediction: Two strong resistance levels are preventing BTC/USD from enter…
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Bitcoin price prediction: Two strong resistance levels are preventing BTC/USD from enter…

20 Dec Bitcoin price prediction: Two strong resistance levels are preventing BTC/USD from enter…

Posted at 06:53h in Bitcoin News by

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  • BTC/USD dropped from $7,287 to $7,151.60 this Thursday.
  • Healthy support at $7,010 is holding the price up.

BTC/USD daily confluence detector

BTC/USD daiily chart

BTC/USD dropped from $7,287 to $7,151.60 this Thursday, following a bullish Wednesday. Currently, the price has fallen further to $7,130. According to the daily confluence detector, re-entry into the $7,200 zone is prevented by two healthy resistances at $7,215 and $7,255. $7,215 has the 100-day Simple Moving Average (SMA 100) and one-week Fibonacci 23.6% retracement level. $7,255 has the one-day Fibonacci 61.8% retracement level and one-month Fibonacci 23.6% retracement level. 

On the downside, a healthy support level is at $7,010, which has the one-day and one-week Pivot Point support one.
 

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