Bulls can overcome $10,000-level again if they gather enough momentum

Story by: Rajarshi Mitra

• BTC/USD went up from $9,765 to $9,905 this Thursday.
• Daily confluence detector shows a lack of any healthy resistance level until $10,000.

BTC/USD has had a bullish session following four straight bearish sessions. The price of the asset went up from $9,765 to $9,905 this Thursday, after charting a high of $10,120. If BTC/USD wants to get back into the $10,000-level, then the bulls will need to rally together and fight back. The daily confluence detector shows a lack of any healthy resistance level until $10,000.

BTC/USD daily confluence detector

The daily confluence detector shows two resistance levels at $10,000 and$10,200. The $10,000-level is the strongest resistance level and has the weekly Fibonacci 38.2% retracement level, while the $10,200-level has the hourly Bollinger band upper curve and 50-day simple moving average (SMA 50).

On the downside, there are two prominent support levels at $9,900 and$9,650. The healthiest support level is at $9,900 and has the confluence of SMA 10, SMA 5 and monthly Fibonacci 61.8% retracement level. The $9,650-level has the weekly 23.6% Fibonacci retracement level.
Original story: https://tinyurl.com/y2bthy4p

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