Bitcoin Price Forecast: BTC/USD crosses $11,200, now faces $11,500 resistance – Confluence Detector
|- BTC/USD bulls recover price after Sunday’s crash.
- Daily confluence detector shows healthy support at $10,900.
BTC/USD daily price chart
BTC/USD faced bullish recovery this Monday following Sunday’s crash. The price has gone up from $11,068 $11,289.65, crossing the $11,200 level in the process. The daily confluence detector shows that the bulls must overcome the $11,500 resistance level to continue the upward momentum. This level is highlighted by the Previous Month high. On the downside, we have one healthy support at $10,900, which has the one-month Fibonacci 23.6% retracement level and 4-hour Bollinger Band lower curve.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.