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Bitcoin Price Forecast: BTC/USD crosses $11,200, now faces $11,500 resistance – Confluence Detector

  • BTC/USD bulls recover price after Sunday’s crash.
  • Daily confluence detector shows healthy support at $10,900.
Bitcoin Price Forecast: BTC/USD crosses $11,200, now faces $11,500 resistance – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily price chart

fxsoriginal

BTC/USD faced bullish recovery this Monday following Sunday’s crash. The price has gone up from $11,068 $11,289.65, crossing the $11,200 level in the process. The daily confluence detector shows that the bulls must overcome the $11,500 resistance level to continue the upward momentum. This level is highlighted by the Previous Month high. On the downside, we have one healthy support at $10,900, which has the one-month Fibonacci 23.6% retracement level and 4-hour Bollinger Band lower curve.
 

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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