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Bitcoin Price Forecast: BTC/USD faces stiff resistance at $11,400 – Confluence Detector

Bitcoin Price Forecast: BTC/USD faces stiff resistance at $11,400 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD fell from $11,908.70 to $11,097.65 in the early hours of Thursday. The daily confluence detector shows one strong resistance and support level at $11,400 and $11,050. The $11,400 resistance level has the one-week Fibonacci 161.8% retracement level. The $11,050 support level has the 15-min Bollinger Band lower curve and one-month Pivot Point resistance-two.

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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