Bitcoin Price Forecast: BTC/USD faces strong resistance upfront – Confluence Detector
|- BTC/USD bulls started the day strong and aim for the $11,000-level.
- There are two strong resistance levels at $11,085 and $11,700.
BTC/USD daily confluence detector
BTC/USD bulls took control in the early hours of Wednesday and took the price up from $10,936 to $10,966. The buyers are currently aiming for the $11,000 psychological level. The daily confluence detector shows a lack of healthy support on the downside.
On the upside, we have two strong resistance levels at $11,085 and $11,700. $11,085 has a dense confluence, which is highlighted by the one-month Pivot Point resistance-two. The $11,700-level has the one-day Pivot Point resistance-one and one-month Pivot Point resistance-three.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.