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.
BTC/USD 1D
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.
More...
https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-and-ethereum-on-a-fragile-support-ripple-finds-traction-at-047-confluence-detector-201806251602
