Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The Technical Confluences Indicator shows that the EUR/USD has clear clusters of support and resistance limiting its movements. On the topside, a dense congestion area awaits at $1.2160 which is the meeting point of the Bolinger Band one-hour-Upper, the Pivot Point one-day R1, the Pivot Point one-month S1, the Fibonacci 28.2 percent one-week, and the Simple Moving Average one-hour.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
On the downside, support awaits at $1.2095. This is the confluence of the SMA100-15m, the SMA10-4h, the Fibo 23.6 percent one-week, and the Fibonacci 38.2 percent one day.
Beyond this range, a break higher would open the door to resistance at $1.2278 which is the convergence of the Fibonacci 61.8 percent one-month, the Bolinger Band one-day Middle, and the SMA100-4h.
On the downside, substantial support is at $1.1995, where we see the Fibonacci 161.8 percent one-day, the SMA 200-one day and the Pivot Point one-day S3 meet.
Here is how it looks on the tool:
Confluence Detector
The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.
This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. This means that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas.
Learn more about Technical Confluence
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.