RATE Group | BTC/USD consolidates under $9,000, confluence detector shows clear path to $9,500 – Conf…
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BTC/USD consolidates under $9,000, confluence detector shows clear path to $9,500 – Conf…

02 May BTC/USD consolidates under $9,000, confluence detector shows clear path to $9,500 – Conf…

Posted at 03:24h in Bitcoin News by

  • BTC/USD has a strong resistance level at $9,515.
  • Healthy support lies at $8,700.

BTC/USD daily confluence detector

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BTC/USD had a bearish start to Saturday as the price dropped from $8,828.50 to $8,810. The price is currently consolidating below the $9,000 level. The daily confluence detector show healthy support at $8,700, which has the 15-min Bollinger Band lower curve, one-day Bollinger Band upper curve, one-week Fibonacci 38.2% retracement level and one-month Fibonacci 23.6% retracement level. 

If the bulls gain enough momentum, they can potentially take the price back into the $9,500-level before encountering strong resistance at $9,515. This resistance level has the Previous Week high, Previous Month high and 4-hour Bollinger Band upper curve. 

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