Bitcoin price prediction: BTC/USD bulls face healthy resistance at $10,075

  • BTC/USD fell from $10.090 to $10.023.50 in the early hours of Thursday.
  • Daily confluence detector shows a lack of healthy support levels on the downside.

Following a heavily bullish Wednesday, BTC/USD has had a bearish start to Thursday. During Wednesday, the price spiked from $9,588 to $10,090, re-entering the $10,000-zone. So far, the price has fallen to $10,023.50 in the early hours of Thursday. The daily confluence detector shows that there is a lack of healthy support levels on the downside.

BTC/USD daily confluence detector

The $10,075 resistance level has the 1-month Fibonacci 23.6% retracement level and the 10-day simple moving average (SMA 10) curve. On the downside, the only support level of note is at $10,015, which has the 15-min previous low, SMA 100 and 1-week Fibonacci 38.2% retracement level.
 

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