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Bitcoin Price Forecast: BTC/USD withdraws from the $11,800 level – Confluence Detector

  • BTC/USD faced bearish correction following a heavily bullish Wednesday.
  • BTC/USD has one strong resistance and support level at $12,225 and $10,900, respectively.
Bitcoin Price Forecast: BTC/USD withdraws from the $11,800 level – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD faced bearish correction following a heavily bullish Wednesday. The price has dropped a bit from $11,755.34 to $11,750.65. As per the daily confluence detector, there is one strong resistance and support level at $12,225 and $10,900, respectively.

$12,225 resistance level has the one-month Pivot Point resistance-one, one-day Bollinger Band upper curve and one-day Pivot Point resistance-two. The $10,900 support level has the one-day Pivot Point support-two 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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