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Bitcoin Price Forecast: BTC/USD sits on top of healthy support as bears take control – Confluence Detector

Bitcoin Price Forecast: BTC/USD sits on top of healthy support as bears take control – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD fell from $11,119.28 to $11,091.65 as the bears took control of the market. The daily confluence detector shows a lack fo strong resistance levels on the upside. On the downside, we have one healthy support at $11,065. This confluences in this healthy support level is highlighted by the one-month Pivot Point resistance-two, one-day Fibonacci 38.2% retracement level and 4-hour SMA 5.

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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