Top 3 Coins Price Prediction Bitcoin, Ethereum and Ripple: Market suffers the after-effects of a bull trap – Confluence Detector

 

Top 3 coins daily confluence detector

Bitcoin

• Open: $11,923,78 
• Current Price: $11,396

BTC/USD sits on top of the $11,350 support line. This line is highlighted by the weekly Fibonacci 23.6% retracement level, monthly Fibonacci 61.8% retracement level and daily Pivot Point one support-two.

The stack of resistance between $11,550 to $11,650 has the daily Pivot Point one support-one, one-day Previous Low and weekly Fibonacci 61.8% retracement level.

Ethereum

• Open:  $475.57
• Current Price: $439.40

ETH/USD lacks strong resistance levels on the upside. On the downside, we have a healthy support level at $402, which has the one-week and one-month Fibonacci 23.6% and 38.2% retracement levels.

Ripple 

• Open: $0.2953
• Current Price: $0.2759

XRP/USD has two strong resistance levels at $00.28 and $0.2935. The former has the one-week Fibonacci 61.8% retracement level, while the latter has the weekly Pivot Point one resistance-one and Previous Week high. On the downside, the $0.2565 has the weekly Pivot Point one support-one and the Previous Week low. 

Did we fall for a proper bull trap?

Bitcoin, Ethereum and Ripple all suffered greatly following positive starts this Wednesday. It definitely looks like the top 3 coins were used as a lure to bring in more buyers before they were unceremoniously dumped.