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Bitcoin Price Forecast: Wild volatility swings continue as bulls cross $11,200 and aim for $12,000 – Confluence Detector

  • BTC/USD bulls took the price above the $11,200-level.
  • The daily confluence detector shows one strong resistance level at $11,700.
Bitcoin Price Forecast: Wild volatility swings continue as bulls cross $11,200 and aim for $12,000 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

BTC/USD bulls continued their dominance of the market as the price went up further from $11,046 to $11,245. The daily confluence detector has one strong resistance level at $11,700, which has the one-day Pivot Point resistance-one and one-month Pivot Point resistance-three.

On the downside, there are two healthy support levels at $10,430 and $9,875. $10,430 has the Previous Month high and one-week Pivot Point resistance-three. Finally, the $9,875-level has the one-month Fibonacci 61.8% retracement level and one-week Pivot Point resistance-one.
 

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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