Bitcoin price prediction: BTC/USD bulls face resistance at $11,400 – Confluence Detector

  • BTC/USD has gone up from $10,840 to $11,280 in the early hours of Wednesday.
  • Daily confluence detector shows a lack of substantial support levels.

BTC/USD was reeling in the early hours of Tuesday as its price went below $10,000 for the first time in nearly two weeks. Since then, BTC/USD bulls have rallied together and taken the price up to $11,300. As per the daily confluence detector, there is a substantial resistance level at $11,400.

BTC/USD daily confluence detector

The daily confluence detector shows a massive resistance-level at $11,400, which has the 10-day simple moving average (SMA 10) curve and the monthly 38.2% Fibonacci retracement level.

There are no substantial support levels. The only respectable level is at $10,950, which sees the 4-hour previous high and 1-day previous high.
 

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