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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.

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