RATE Group | BTC/USD resumes the upside, targets SMA100 daily – Confluence Detector
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BTC/USD resumes the upside, targets SMA100 daily – Confluence Detector

28 Oct BTC/USD resumes the upside, targets SMA100 daily – Confluence Detector

Posted at 00:50h in Bitcoin News by

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  • BTC/USD has resumed the upside movement after a consolidation period;
  • A sustainable move above $9,650 will take the price to $10,000.

Bitcoin (BTC) has resumed the growth after a period of range-bound trading. At the time of writing, BTC/USD is changing hands at $9,500, having gained nearly 2.5% since the beginning of the day and 3% on a day-to-day basis. The upside momentum is gaining traction, however, the further recovery may be limited by a strong resistance created by SMA100 (Simple Moving Average) on a daily chart. The coin has been trading below this indicator since the beginning of September.

Read also: Bitcoin (BTC) jumps above $10,000, what’s going on?

Bitcoin confluence levels 

BTC/USD  bulls resumed their attempts to take the coin to new highs. After a short period of consolidation, Bitcoin is growing again with the Relative Strength Index (RSI) pointing upwards on all intraday timeframes. 

Let’s have a closer look at the technical levels…

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