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Bitcoin Technical Analysis: Bulls in control as BTC/USD looks to break past $6,500 – Confluence Detector

  • BTC/USD jumped up from $5,872.70 to $6,414.40, following a brief drop below the $6,000 level.
  • BTC/USD has one healthy support on the downside at $6,300.
Bitcoin Technical Analysis: Bulls in control as BTC/USD looks to break past $6,500 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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After a brief drop below the $6,000 level, BTC/USD bulls took back control this Monday by taking the price up from $5,872.70 to $6,414.40. So far this Tuesday, the price has gone up further to $6,475.65. The daily confluence detector shows a lack of resistance levels on the upside, so expect the price to go up even more. On the downside, there is only one healthy support level at $6,300, which has the SMA 100 and 4-hour Bollinger Band.


 

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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