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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.

More from Rajarshi Mitra
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