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Top 3 Price Prediction Bitcoin, Ripple, Ethereum: SEC postpones ETF decision and cryptos crash levels to watch – Confluence Detector

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  • The US SEC decided to postpone a decision on approving an ETF to 2019
  • The move sparked a fresh sell-off, with Bitcoin, Ethereum, reaching new lows.
  • Here are the levels to watch according to our proprietary technical tool.

The US Securities and Exchange Commission (SEC) decided to delay, once again, its decision on a request for an Exchange Traded Fund (ETF) for Bitcoin. The request, made by SolidX Partners and asset manager Van Eck had a deadline of December 29th but was pushed back to around February.

A Bitcoin ETF would enable mainstream investors to jump into the world of cryptocurrencies. Delays have been key adverse drivers of prices of digital coins during 2018. Some other applications were rejected, but this specific high profile one suffered endless delays.

Bitcoin lost the previous trough seen on November 24th, Ehtereum fell below $100, and Ripple also suffered a downfall, albeit did not hit new yearly lows.

Here are the levels to watch on Bitcoin, Ethereum, and Ripple.

BTC XRP ETH December 7 2018 technical confluence

BTC/USD low point is below $3,000

The previous trough for Bitcoin was $3,456 and recorded in late November. It now turns into resistance as we see a cluster of not only the monthly lows but also the previous 4h-High, the Simple Moving Average 10-1h, the Pivot Point one-month Support 1, and the Bollinger Band 4h-Lower.

Some support awaits at around $3,295 where we see the PP one-day S1, the BB 15m-Lower, and the BB 1h-Lower.

There are several support lines spread out on the way down but the most significant level to watch is only at around $2,975 where we find last year’s low, followed by the Pivot Point one-week Support 2.

If BTC/USD overcomes $3,466, the next cap to watch is $3,580 which is the convergence of the SMA 5-4h, and the BB 1h-Middle.

ETH/USD targets $75 but has support beforehand

Ethereum has lost its second-place status and fell below $100. It faces quite a few hurdles before the round number.

$85.30 is the confluence of the Fibonacci 161.8% one-week, the SMA 5-15m, the SMA 10-15m, and it is followed closely by $86.16 where we see the PP one-day Support 3, the previous 1h-high, and the Bollinger Band 15m-Middle.

Further above, $87.93 features only one technical cap, but it is quite significant: the Pivot Point one-week Support 2.

Looking down, we see a cluster of support at around $81.20 where the Pivot Point one-day S2 and the Bolinger Band one-day Lower converge.

However, the target is much lower: at $75 we see the Pivot Point one-month Support 3.

The prospects for Vitalik Buterin’s brainchild do not look that great.

XRP/USD faces an uphill battle

Ripple has not reached the yearly lows just yet, but the digital coin faces more resistance than support.

At $0.3210 it faces a dense cluster of resistance lines including the BB 1h-Middle, the PP one-month S1, last month’s low, the SMA 5-4h, the Fibonacci 38.2% one-day, and others.

Before attempting a move on $0.3210, $0.31 is somewhat challenging as well. It includes the Bollinger Band 4h-Lower, the previous 4h-high, and the SMA 10-1h.

Looking down, $0.2929 is a support line featuring the Bollinger Band 15min-Lower, the previous 4h-Low, the Pivot Point one-day Support 1, and the BB one-day Lower.

The ultimate downside target is $0.2695 where we see the Pivot Point one-month Support 1.

Source: fxstreet

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Top 3 Price Prediction Bitcoin, Ripple, Ethereum: An undervalued Bitcoin attracts money to the entire crypto board

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  • Unconfirmed upward breaks attract market attention.
  • Ethereum enjoys market support thanks to Constantinople.
  • XRP sows doubt in its already classic anti-cyclical market behavior.

 

Friday finally arrives after a boring week on the crypto-board that looks like it’s going to give us some activity and get us out of boredom.

The board has been turning green as the Asian session advanced, and now the market rises timidly but at key levels that can give a sign of a bullish break.

 

 

A close at the ETH/BTC above 0.0338 would send a first hint, which would be confirmed by a close above 0.034342. From there, the rise should be generalized among all the main players in the sector, with Ethereum leading the upward movement, followed by Litecoin, Bitcoin and XRP.

 

BTC/USD 240 Minute Chart

 

The BTC/USD pair is currently trading at the $3.578 price level and is heading towards the first price congestion resistance level of $3,600.

BTC/USD moves in the upper zone of the long term bearish channel and can break up the trend line that acts as the channel ceiling at the $3,650 price level. In the event of such a break, the next resistance level is $3,690 (price congestion resistance).

Below the current price, the first support level is at the $3,560 price level (price congestion support). Below this support level, there is a very crowded area where the EMA50 passes at $3,550 and the SMA200 at $3,525 and finally a congestion support price at $3,515, forming a potent area that should offer strong support to Bitcoin.

 

 

The MACD on the 4-hour chart presents a quasi-perfect bullish cross profile. The price has broken the short term trend and continues to be slightly optimistic, so it is likely that the bullish cross on the indicator will eventually occur.

The DMI on the 4-hour chart shows that bulls are slightly ahead of bears, but with so little difference that it would be effortless to turn around.

The general aspect is very confident in the short term, perhaps too good aspect, so those who trade in scalp mode would be recommended to adjust the stops as much as possible.

ETH/USD 240 Minute Chart

The ETH/USD is trading at the price level of $122.79, breaking the short term bearish trend line by a few cents. It is a very precarious technical signal that can be easily reversed.

Confirmation of the break would give it a close above the price level of $126.4, the recent high.

Above this price level, the next bullish target is $130.75 (price congestion resistance), then $142 (price congestion resistance) and finally $150 (price congestion resistance).

Below the current price, the first level of support is at $120 (price congestion support), a support that is greatly enhanced by the presence of the EMA50 at $118.65. The second level of support is at $115 (price congestion support), a level also greatly enhanced by the presence of the SMA200 at $115.46. Finally, at $112.5 the SMA100 would be the third level of support.

 

 

The MACD on the 4-hour chart does not show a bullish cut profile like the one we see on the Bitcoin, but the lines are very close together, and a bullish cross would be an easy task.

The DMI on the 4-hour chart shows us that bulls are keeping control although at slightly lower levels than in previous days. The bears, for their part, have increased activity slightly in recent hours but fail to threaten the dominance of the bulls.

XRP/USD 240 Minute Chart

 

The XRP/USD is currently trading at the $0.3040 price level, narrowly beating the short term bearish line. XRP broke this line a few hours ago, and the movement was rejected. To confirm, XRP/USD must close above the resistance level at $0.308 (price congestion resistance).

Below the current price, the first support level is immediately below the spot price with the SMA100 at $0.3034 and the EMA50 at $0.3032, bringing much strength to the price congestion support level at $0.300. The second support level is $0.2937 (price congestion support), then the third is $0.2886(price congestion support).

Above the current price, the first resistance level is at $0.03083 (price congestion resistance), then the SMA200 at $0.3114 as a key level as this moving average has stopped the last three bullish cross attempts. The third resistance level is at $0.3173 (price congestion resistance), a level that if surpassed by the XRP/USD pair could trigger bullish euphoria.

 

The MACD on the 4-hour chart shows a very flat profile, lacking any direction or inertia. Any move will require a strong push to get the XRP chart back on track.

The DMI on the 4-hour chart shows bulls retaining control of the XRP/USD pair, although they have decreased in strength in recent hours. For their part, bears have attempted to take control of the moment, but the ADX line rejected it, good news for the bulls.

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Bitcoin, Ethereum, Ripple overview: Major coins sliding as market is skeptical about JPMorgan’s JMP Coin

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  • Major cryptocurrency are rangebound with bearish bias on Friday.
  • The excitement about the recovery turned out to be premature, Mati Greenspan warns.
  • Not everyone is happy about JPMorgan’s venture into cryptocurrencies.

Major cryptocurrency prices are moving to the South on Friday, extending losses from previous sessions.

Bitcoin is changing hands at $3,570. The first digital coin has been trading in a relatively narrow range for the best part of the week. Also, there is a taste of disappointment in the market as the recovery attempts are effectively capped by $3,600.

Ethereum, the second largest coin with a market value of $12.7B is trading at $121.47, down 1.3% since this time on Thursday. XRP stays unchanged at $0.3025 amid shrinking volatility and low trading volumes.

“The effects of the weekend rally seem to be slowly fading, and the crypto markets are oddly mixed. Of course, this is a very moderate decline and can easily be turned around, but looking at both sides of the coin, it could also be an indication the excitement was premature,” Mati Greenspan, senior market analysts at eToro commented.

JPMorgan Chase announced the launch of its own cryptocurrency called JPM Coin. It will be used to settle payments between customers to speed up the transactions and make the process more efficient.

However, the market did not feel enthusiastic about it. The cryptocurrencies barely moved, while some experts came up with critical comments.

“Blockchain and Bitcoin were, of course, initially supposed to allow individuals to send each other cash without any state or company standing in their way. But that dream is now effectively dead, and blockchain is now fully into its boring phase. The latest and most telling evidence of this arrived this morning when JPMorgan (JPM) said it had developed and tested a prototype of a digital coin,” Ben Walsh is a finance reporter at Barron’s writes.

He states that the technology that was meant to reduce a middleman now used to make them even stronger.

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Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Collective Capitulation on Valentine’s day

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  • The word capitulation appears in different sources…something is being planned…
  • Volatility may increase towards the end of today.
  • BTC/USD may be the first to notice the coming shake.

According to Investopedia:

“Capitulation is when investors give up any previous gain on any security or market by selling their positions during periods of falls. … A market correction or bear market often leads investors to capitulate or panic sell. The term derives from a military term that refers to surrender.”

Have you sold your cryptos in recent weeks?

You haven’t done so but are you tempted to do so several times a week?

You should know that this is the massive thinking among non-professionals, and some professionals, in recent months.

Just as euphoria pushes to buy at illogically high levels, fear pushes to sell at minimums with the firm intention of saving something from the salvageable. Humans are programmed to react in this way to emotionally extreme environments, all of us.

However, some have learned that if they can look at the situation from the other side of the story, they will find it easy to find someone who sells things to them at minimum prices and then repurchase them at maximum rates.

BTC/USD 240 Minute Chart

 

The BTC/USD pair is currently trading at the $3.566 price level, resting on a support level of price congestion at that price level. BTC/USD is under the influence of the EMA50 at $3.544 and the SMA200 at $3.527and is very likely to fall to these levels. Even a drop to the next support level of $3,473 (SMA100) is within expectation.

Above the current price, the first target is at $3,600 (price congestion resistance), a resistance level from which it would be likely to attempt to breach the long term bearish channel’s trendline ceiling by $3,650. The behavior of the BTC/USD pair can become explosive from the resistance level of $3,700 (price congestion resistance).

 

 

The MACD on the 4-hour chart shows how the lines continue to cross downward but already very close to the middle line of the indicator where it is very likely to turn bullish again.

The DMI on the 4-hour chart shows how bulls and bears have followed opposite dynamics and are heading to a meeting point that will occur late today. This encounter between the two sides of the market will bring volatility to the market, with a high probability that in the case of Bitcoin, we will witness rapid, yet momentary falls.


ETH/USD 240 Minute Chart

 

ETH/USD is currently trading at the $122 price level, extending the bullish movement that began last Friday. The $120 support level has worked and building on its support Ethereum continues to move higher in the direction of the next resistance level of $131 (price congestion resistance). This price level would be ideal for consolidating the bullish break and waiting for the arrival and regrouping of the moving averages. This move could last a couple of weeks.

Below the current price, the first support level is at the previously mentioned price level of $120 (price congestion support), the second being a confluence zone composed of the EMA50 at $117, the SMA200 at $115.60 and finally a price congestion support at $111. As an extreme support level, which should not be lost in any case, the price congestion support at $105.5.

 

 

The MACD on the 4-hour chart shows a slightly bearish profile with a little distance between the lines. It is a propitious structure for the continuity of the current situation.

The DMI on the 4-hour chart shows us bulls with control of the market but in a mild downward trend. On the other hand, the bears do not buy the supposed weakness to the bulls and do not react to the rise.

XRP/USD 240 Minute Chart

The XRP/USD is currently trading at the $0.304 price level after consolidating support at the $0.30 price level, which is reinforced by the presence at $0.303 of the EMA50 and the SMA100.

The first bullish target is the SMA200 at the $0.3122 price level. It is very likely that after conquering this lead moving average, the XRP/USD pair will propel itself to the next resistance level at $0.317 (price congestion resistance). The following one is $0.328 (price congestion resistance), while the next immediate resistance level is $0.334 (price congestion resistance). Above this level, the XRP/USD is likely to rise very strongly to relative highs around $0.75.

 

 

The MACD on the 4-hour chart shows a fully horizontal profile and in the positive zone of the indicator, albeit for very little. It is a stagnant structure that often leads to violent movement.

The DMI on the 4-hour chart shows bulls with control of the market, although closely followed by some bears that in the case of Ripple, they seem motivated to increase their activity. The trajectory of both sides of the market will lead them to collide in the coming hours, which may lead to a significant increase in volatility.

Source: fxstreet

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