Bitcoin price prediction: BTC/USD crosses $11,000, how much further can it go? - Confluence Detector
|- BTC/USD crossed $11,000 for the first time since 2018 this Monday.
- BTC/USD has to overcome resistance at $11,075 to continue the upward momentum.
BTC/USD is currently in the middle of sustained upward momentum, having enjoyed 13 bullish days out of the last 14. This Monday, the bulls managed to push BTC/USD for the first time since March 2018. In the early hours of Tuesday, the price has gone up further from $11,035 to $11,070. The bulls will need to overcome resistance at $11,075, as per the daily confluence detector, to sustain upward momentum.
BTC/USD daily confluence detector
As per the daily confluence detector, the resistance levels are $11,075 and $11,200. The $11,075 level sees a confluence of 15-min previous high, 1-day Bollinger upper curve and 1-hour previous high. The $11,200 level has the 1-week pivot point resistance 2.
Support levels are at $10,900 and $10,700-$10,725. There is strong support at the $10,900 line and it sees a confluence of the 1-day Fibonacci 38.2% retracement level and the hourly Bollinger band middle curve. The $10,700-$10,725 stack has 1-week pivot point resistance 1, 1-hour Bollinger band lower curve, 1-day pivot point support 1 and 4-hour Bollinger band middle 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.