Bitcoin still struggles on approach to $7,000; pressure is growing

BTC/USD has clear path till $10,000 as bulls take flight pre halving – Confluence Detector

  • BTC/USD gained more than $1,000 in valuation this Wednesday.
  • The daily confluence detector shows a lack of strong resistance levels on the upside.

BTC/USD daily confluence detector

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BTC/USD flew up from $7,758.34 to $8,790 this Wednesday, adding more than $1,000 to its valuation. Currently, the price has gone down a bit to $8,762.35 in the early hours of Thursday. There is a lack of strong resistance levels on the upside. On the downside, there are two healthy support levels at $8,000 and $7,885. The former has the one-week Pivot Point resistance-one, one-day Pivot Point resistance-three, one-day SMA 200, one-hour SMA 50. The $7,885-level has the one-day Pivot Point resistance-two, one-day Fibonacci 161.8% retracement level, 4-hour Bollinger Band middle curve and one-day Bollinger Band upper curve.
 

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