TRENDING:
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
Sponsored by
Login
|

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
Share:

Editor's Picks

Ripple eyes short-term bullish turn as investor demand returns

Ripple eyes short-term bullish turn as investor demand returns

Ripple exhibits strong recovery prospects, trading above $1.10 on Friday. This rebound aligns with the broader crypto market and can be attributed to easing geopolitical tensions in the Middle East and growing appetite for risk assets.

Crypto Today: Bitcoin, Ethereum, XRP advance amid renewed capital inflows

Crypto Today: Bitcoin, Ethereum, XRP advance amid renewed capital inflows

Bitcoin maintains its upward momentum, holding above the $61,000 mark at the time of writing on Friday. Major altcoins such as Ethereum and Ripple are also posting gains, signaling a modest uptick in market sentiment and renewed risk appetite among investors.

Bitcoin Weekly Forecast: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin Weekly Forecast: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin recovers to $61,800 on Friday after falling to a 21-month low of $57,800. US-listed spot ETFs recorded outflows of $526.64 million through Thursday, pointing to the eighth consecutive week of withdrawals.

Pi Network posts minor gains amid easing risk-off market sentiment

Pi Network posts minor gains amid easing risk-off market sentiment

Pi Network (PI) shows minor recovery on Friday, a slow follow-through of the 2% rebound from the previous day. The recovery in PI aligns with the easing broader market risk-off sentiment, fueling speculative interest in the token.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.