- The price dipped from $8,151.38 to $7,984 in just two hours yesterday.
- The daily confluence detector shows a resistance level at $8,185
BTC/USD suffered a heavily bearish Wednesday, wherein its price fell from $8,158 to $7,994, going below the $8,000-level in the process. So far today, the price has fallen further to $7,975. The hourly breakdown shows us that BTC/USD was trending horizontally before it dropped from $8,151.38 to $7,984 in just two hours. The daily confluence detector shows a resistance level at $8,185, while there are two healthy support levels at $7,775 and $7,715.
BTC/USD daily confluence detector
The $8,185 resistance level has the one-day previous high and one-week Fibonacci 61.8% retracement level. On the downside, the $7,775 support has the one-day pivot point support two and previous week low, while the $7,715 support level has the previous month low.