Bitcoin price prediction: $8,000 remains the goal

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  • BTC/USD is currently priced at $7,872 after the price fell to $7,915 this Tuesday.
  • As per the daily confluence detector, there is a healthy resistance level at $7,950.

BTC/USD went down from $8,020 to $7,915 this Tuesday as the bears continued their domination this Wednesday taking the price down to $7,872. As can be seen, the price is failing every single time at $8,000-zone. So, will the bulls be able to take the price back into the zone again today? The daily confluence detector shows that there is a healthy resistance level at $7,950.

BTC/USD daily confluence detector

The resistance levels are at $7,950, $8,150 and $8,250. The confluence detectors are at:

  • $7,950:15-min Bollinger band lower curve, 5-day simple moving average (SMA 5), SMA 10, SMA 50, SMA 100, SMA 200, hourly Bollinger band middle curve, hourly previous low, 15-min Bollinger band middle curve and 15-min previous low.
  • $8,150: The important $8,150 level has the 1-day previous high
  • $8,250: Daily Bollinger band middle curve and monthly 23.6% Fibonacci retracement level.

The support levels are at $7,800, $7,700 and $7,400. The confluences at those levels are:

  • $7,800: SMA 10, SMA 50, SMA 100, SMA 200, 4-hour Bollinger band middle curve and 1-day 38.2% Fibonacci retracement level.
  • $7,700: Monthly 38.2% Fibonacci retracement level, 4-hour Bollinger band lower curve and 1-day pivot point support 1.
  • $7,400: 1-week pivot point support 1 and 1-day Bollinger band lower curve.
     

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