- Cryptocurrencies have suffered a blow with Bitcoin dropping temporarily below $500.
- All top three digital coins need to cling onto support lines in order to consolidate and resume the rally.
- Here are the levels to watch according to the Confluence Detector.
After finding at least seven reasons for the surge, cryptocurrencies consolidated on higher ground and recently suffered a blow. Is this a continuation of the correction or perhaps a worrying change of course?
This looks more like a correction, but to convince the skeptics, digital assets need to hold onto critical support lines, until the next
This is what the Crypto Confluence Detector shows in its latest update:
BTC/USD needs to hold onto $5,019
Bitcoin, the grandaddy of cryptocurrencies, has managed to bounce back above $5,000 quite quickly and needs to hold onto $5,019 where we see the convergence of the Simple Moving Average 10-1d, the Pivot Point one-day Support 2, the previous 1h-low, the Bollinger Band…