Bitcoin price prediction: BTC/USD faces no visible resistance in potential return to $13,000 - Confluence Detector
- BTC/USD has shot up from $12,300 to $12,650 in the early hours of Tuesday.
- Five healthy levels support the BTC/USD price.
BTC/USD has enjoyed three bullish days in a prior before today, wherein the price has gone up from $11,000 to $12,300. The bulls have continued their offense this Tuesday, taking the price further up to $12,650. The daily confluence detector shows a lack of any resistance levels until $13,000, while five healthy levels support the price.
BTC/USD daily confluence detector
The support levels are at $12,150, $12,200, $12,275, $12,350 and $12,400. The $12,150 level has the 4-hour previous low and daily 23.6% Fibonacci retracement level. The $12,200 level is reinforced by the previous week high. The $12,275 level has the hourly previous low and 1-week pivot point resistance 1. $12,350 has the monthly 23.6% Fibonacci retracement level. Finally, the $12,400 level has the 4-hour previous high and 1-day previous high.
Author
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.
