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Bitcoin Price Forecast: BTC/USD faces strong resistance at $11,550 – Confluence Detector

  • BTC/USD bears eked out an advantage this Tuesday.
  • BTC/USD has one healthy support level at $10,900.
Bitcoin Price Forecast: BTC/USD faces strong resistance at $11,550 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD bears eked out an advantage this Tuesday, following a bullish Monday. The price has gone down from $11,235.08 to $11,209 over the day. The daily confluence detector has one strong resistance and support level at $11,550 and $10,900, respectively.

The $11,550-level has the Previous Month high, Previous Week High and one-day Previous High. Finally, the $10,900 support level has the 4-hour Bollinger Band lower curve and one-month Fibonacci 23.6% 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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