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Bitcoin Price Prediction: BTC/USD bulls face immediate resistance – Confluence Detector

Bitcoin Price Prediction: BTC/USD bulls face immediate resistance – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

fxsoriginal

BTC/USD bears took over control as the price fell from $11,756 to $11,748. Further price drop is expected as the daily confluence detector shows a lack of healthy support levels. On the upside, the price faces immediate resistance from $11,750-$11,850.

This resistance range has the one-day Fibonacci 161.8% retracement level, one-week Fibonacci 23.6% retracement level, one-hour Previous High, daily Pivot Point one resistance-one and one-day Bollinger Band middle 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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