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Bitcoin Price Forecast: BTC/USD consolidates above $13,000 – Confluence Detector

  • BTC/USD bulls have taken control of the market in the early hours of Friday.
  • The daily confluence detector shows one healthy support at $10,900.
Bitcoin Price Forecast: BTC/USD consolidates above $13,000 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD has gone up from $11,327.13 to $11,339 in the early hours of Friday, as the buyers consolidate the price above $11,300.  The daily confluence detector has one healthy support level at $10,900., which has the weekly Pivot Point one support-two and one-month Fibonacci 23.6% retracement level.

On the upside, we have three strong resistance levels at $11,475, $11,800 and $11,900. The $11,475-level has the Previous Week low, while the $11,800-level has the one-week Fibonacci 23.6% retracement level. Finally, the $11,900 resistance level has the daily Pivot Point one resistance-two and one-week Fibonacci 38.2% 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.

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