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Bitcoin Price Forecast: BTC/USD bears take charge of the market – Confluence Detector

Bitcoin Price Forecast: BTC/USD bears take charge of the market – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD bears have taken charge of the market in the early hours of Friday as the price dropped from $11,861.70 to $11,839.33. The daily confluence detector shows that price is sandwiched between $11,900 resistance level and $11,750 support line.

The $11,900-level has the one-day Fibonacci 38.2% and 23.6% retracement levels, among others. The $11,750 support level is highlighted by the one-week Fibonacci 38.2% retracement level and one-day Previous Low.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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