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Author Topic: [2018-06-25] Price Prediction: Bitcoin and Ethereum on a fragile support  (Read 17 times)
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June 26, 2018, 03:20:34 AM

Top 3 Price Prediction: Bitcoin and Ethereum on a fragile support, Ripple finds traction at $ 0.47 - Confluence Detector

~ After two days of sharp price drops, the slight increases have not found solid support.

~ Our "Technical Confluence Indicator" tool indicates less consistent support lines than the challenges that exist in the form of resistance levels.

The Bitcoin trades at $6,287 after climbing about 10% from the weekend lows. The pullback did not manage to conquer a solid support, so the next few hours could be critical.

Below the spot price, the first remarkable support is the 23.6% Fibonacci retracement on a weekly basis at the $6,150 level. It is not up until $100 below that the daily 61.8% Fibonacci retracement is placed, right at $6,050. The most important level to the BTC/USD is located at the $5,950 mark, where the confluence of monthly and weekly lows could provide BTC/USD some reliable support.

Above the current price level, BTC/USD also has a lot of room to move up until finding some resistance at $6,300 level, where the 38.2% Fibonacci retracement on a weekly basis is waiting.

At the Bitcoin bullish end, the daily R1 Pivot Point waits around the $6,350 level and, slightly above, we can find the monthly S1 Pivot Point level.


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