Rajarshi Mitra
Independent Analyst
- BTC/USD has strong resistance at $12,300.
- On the downside, a healthy support stack lies between $11,485 - $11,600.
BTC/USD daily confluence
BTC/USD bulls stayed in control for the third straight day as the price went up from $11,795.39 to $11,817. Having taken the price above $11,800, the bulls will next want to aim for the $12,000-level. As per the daily confluence detector, BTC/USD has strong resistance at $12,300, which has the one-week and one-month Pivot Point resistance-one.
On the downside, there is a healthy support stack between $11,485 - $11,600. This stack is highlighted by the one-day Fibonacci 23.6% retracement level, one-week Fibonacci 61.8% retracement level and Previous Month high.
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