Bitcoin Eyeing Levels Over $4,000, Ethereum And Ripple Follow Suit

  • Cryptocurrencies made another move higher with another consolidation as Blockstream sends another satellite to space.
  • The moves are the opposite of a “dead cat bounce” and represent a healthy recovery.
  • Here are the levels to watch according to the Confluence Detector, our proprietary tool

The crypto comeback continues. Among the recent news items, we learned that Blockstream expanded its presence above the blue planet by sending its fifth satellite to space.Another piece of positive news came from Mike Novogratz that sees a bottom coming to Bitcoin prices.

The recent moves in cryptos are two steps up, one step down. Every move is followed by consolidation without a significant retreat in the prices of digital coins. We are witnessing the exact opposite of the infamous “dead cat bounces” that we have seen until last week.

(Click on image to enlarge)

Bitcoin Ethereum Ripple December 19 2018

BTC/USD already braces for levels above $4,000

Bitcoin, the granddaddy of cryptocurrencies faces a medium-sized hurdle at $3,770 where we see the convergence of the Pivot Point one-day Resistance 1, the Bollinger Band 15-minute Upper, the previous 4h-high, the BB 4h-Upper, and the PP one-week R2.

However, the more significant resistance line awaits at $4,199 where the all-important Fibonacci 23.6% one-month awaits BTC/USD.

Looking down, significant support awaits at $3,655 which is the confluence of the previous weekly high, the BB 1d-middle, the BB 1h-middle, the Fibonacci 23.6% 1d, and the Simple Moving Average 5-4h.

The most substantial support is at $3,500. Apart from being a round number, it is the PP 1w-R1, the SMA 100-4h and it is followed by the previous month’s low, and the Fibonacci 61.8% 1w.

ETH/USD can rest above $101, looking at $113.80

Vitalik Buterin’s coin finally recaptured the $100 level and now battles $103 where we see a dense cluster including the SMA 5-1h, the SMA 5-15m, the BB 15m-Middle, the previous day’s high, and the SMA 10-1h.

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