Bitcoin Price Prediction: Daily confluence detector shows a lack of strong resistance till $11,500
- BTC/USD broke past the $10,000 psychological levels this Monday.
- The daily confluence detector shows a lack of strong resistance levels until $11,500.
- Two healthy support levels lie at $9,650 and $9,275.
BTC/USD daily confluence detector
BTC/USD fell from $10,206.75 to $10,170 as the bears took control following a heavily bullish Monday. As per the daily confluence detector, if the bulls take back control, we may see another wildly volatile day as there is a lack of strong resistance on the upside till $11,500.
On the downside, healthy support levels lie at $9,650 and $9,275. The former has the 4-hour SMA 10, one-hour SMA 50, 15-min SMA 100, 15-min SMA 200, one-day Pivot Point support-one, and one-month Fibonacci 23.6% retracement level. The $9,275 level has the one-week Fibonacci 38.2% retracement level, 4-hour Bollinger Band lower curve and 4-hour SMA 200.
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.
