Bitcoin Price Forecast: BTC/USD bulls eke out an advantage to form bullish Doji pattern – Confluence Detector
- BTC/USD bulls stayed in control of the market for the second straight day.
- BTC/USD has one strong resistance level at $12,300.
BTC/USD daily confluence detector
BTC/USD bulls remained in control of the market for the second straight day. The price has gone up from $11,755.34 to $11,7757.44 to form a bullish Doji pattern.
The daily confluence detector shows one strong resistance level at $12,300. This level has the one-month Pivot Point resistance-two, among others.
On the downside, we have three healthy support levels at $11,500, $10,900 and $10,700. The $11,500-level has the Previous Month high, Previous Week high and 4-hour Bollinger Band middle curve. The $10,900 level has the one-day Pivot Point support-two and one-month Fibonacci 23.6% retracement level. Finally, the $10,700 support level has the 4-hour SMA 100 and daily Pivot Point 1 support-three.
Author
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.
