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Bitcoin Technical Analysis: BTC/USD daily confluence detector shows a lack of healthy support levels on the downside

  • BTC/USD went up from $6,838.84 to $6,900.45 this Tuesday.
  • Strong resistance lies at $6,975.
Bitcoin Technical Analysis: BTC/USD daily confluence detector shows a lack of healthy support levels on the downside
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD had a bullish Tuesday, wherein the price of the asset went up from $6,838.84 to $6,900.45. The daily confluence detector shows a lack of healthy support on the downside so that a price drop won’t be surprising. On the upside, strong resistance lies at $6,975, which has the one-day and one-week Fibonacci 38.2% retracement level, 15-min and one-hour Bollinger Band upper curves. 15-min Previous High and 4-hour SMA 10.
 

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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