Top 3 Bitcoin, Ethereum and Ripple Price Predictions: BTC facing “The Wall” - Confluence Detector

BTC/USD 1D

As in the “Groundhog Day”, Bitcoin is trading around $6,562, just below the only top rated confluence level of the Confluence Tool located at $6,575. Like a Spiderweb, made of very fine fibers that are more resistant than steel, this level of confluence may be the max level one, but it is made up of so many indicators that it will be almost impossible to break it. Weekly Pivot Points, monthly Fibonacci retracements, multi-frame highs and lows and an uncountable amount of averages allow us to give this level the name of “The Wall”.

But impossible is nothing and Bitcoin has shown us several times that it could break anything if investors give it enough money to burn. Above “The Wall”, only two average partitions separate BTC/USD from an open field: the first at $6,700, which bases its resistance only on the R2 Pivot Point level in the monthly time frame, and the second at just over $7,000, which is the result of adding the forces of the R3 Pivot Point in weekly time frame and the 61.8% of Fibonacci in the monthly range.

If Bitcoin takes the road south, it will find several places to rest, but very few to sleep. First, above $6,450, Bitcoin would be supported by the weekly R1 Pivot Point and far away down, the second place to consider as safe is the $5,800 level, where the monthly and weekly lows are the last defense struts before what would be a long winter for the BTC/USD price.

ETH/USD 1D

A more conventional scenario is the one that hosts ETH/USD, which is currently moving around $467, in the middle distance of the only important supports and resistances that Ethereum currently has. This is just below a medium intensity resistance whose main component is the 61.8% Fibonacci level daily. If ETH/USD can overcome this low hurdle, the true level will be seen when $475 is reached, where a severe resistance level formed by the weekly maximum and the R1 Pivot Point on a daily and weekly basis. Above this level, minor resistances should not be an impediment to Ethereum.

Below the current price, there is a similar scenario, with the most significant support at $457, formed by the S1 daily Pivot Point and the 23.6% monthly Fibonacci level. Up to this level, it reaches the influence of the S2 Pivot Point level in the daily frame and the 61.8% of Fibonacci in the weekly one, which has moved ten dollars lower.

XRP/USD 1D

Ripple has a very differentiated configuration from its Crypto counterparts. It is trading at $0.473, between a support and a low-intensity resistance that is the most important force level at $0.532. The first meaningful level is at $0.484, the most significant component of which is the daily Fibonacci 38.2% level. The second obstacle protects access to the $0.50 level and it is much more powerful, as its members include the R1 Pivot Point on a daily and weekly basis, last week's high and the 23.6% level of Fibonacci on a monthly basis.

On the downside, the first support is close to $0.469 and its main component is the weekly Fibonacci 61.8% level. It will not be until $0.425 is reached that the second important support will appear, formed by the S3 Pivot Point on a daily basis and the weekly and monthly minimums, among others.