RATE Group | BTC/USD is still bound for $10,000 – Confluence Detector
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BTC/USD is still bound for $10,000 – Confluence Detector

29 Oct BTC/USD is still bound for $10,000 – Confluence Detector

Posted at 11:38h in Bitcoin News by

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  • Bitcoin breaks out in the European session to reclaim ground above $9,500.
  • Bitcoin has enough support on the downside including $9,261 and $8,967.

Bitcoin bulls are making a comeback during the European hours. The Asian session was characterized by increasing pressure on short-term support areas. However, from an opening price of $9,221.91 Bitcoin has added more than 3% onto its value to exchange hands at $9,511.

The confluence tool shows Bitcoin trading towards a relatively smooth range. The next key hurdle is seen at $9,750 and is home to the Fibonacci 61.8% one-month, pivot point one-day resistance one and pivot point one-week resistance two. In the event, this zone’s resistance is cleared, Bitcoin will have the potential to rise above $10,000 and even scale the vital $10,200 resistance.

Read also: Bakkt new consumer app will help in unlocking “the value of digital assets”

On the downside, Bitcoin is supported at various zones but the first one is…

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