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Bitcoin Price Forecast: BTC/USD faces strong resistance at $11,550 – Confluence Detector

  • BTC/USD bears eked out an advantage this Tuesday.
  • BTC/USD has one healthy support level at $10,900.
Bitcoin Price Forecast: BTC/USD faces strong resistance at $11,550 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD bears eked out an advantage this Tuesday, following a bullish Monday. The price has gone down from $11,235.08 to $11,209 over the day. The daily confluence detector has one strong resistance and support level at $11,550 and $10,900, respectively.

The $11,550-level has the Previous Month high, Previous Week High and one-day Previous High. Finally, the $10,900 support level has the 4-hour Bollinger Band lower curve and one-month Fibonacci 23.6% retracement level.
 

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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