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Bitcoin Price Forecast: BTC/USD bulls and bears wrestle for control near the $11,600 level– Confluence Detector

  • BTC/USD lacks strong resistance on the upside.
  • On the downside, we have three healthy support levels at $11,600, $11,465 and $10,870.
Bitcoin Price Forecast: BTC/USD bulls and bears wrestle for control near the $11,600 level– Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

BTC/USD is trading around $11,605 as bulls and bears wrestle for control. The daily confluence detector shows a lack of strong resistance levels on the upside. On the downside, we have three healthy support levels at $11,600, $11,465 and $10,870.

$11,600 has the one-day Previous Low and one-day Pivot Point support-one, among others. The $11,465-level is highlighted by the one-day Pivot Point support-two, Previous Week high and Previous Month high. Finally, the $10,870 support level has the one-month Fibonacci 23.6% retracement level.
 

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.

More from Rajarshi Mitra
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