Bitcoin price is getting ok right now

Lebedev

Lebedev

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Jun 26, 2018
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#1
Bitcoin has just started recovering to the state where it used to be. The BTC/USD pair is now sold for more than $4000. What we can wait for is the price as big as $5000.

Bitcoin has been showing good results during the Monday and by the time is post is being written BTC/USD pair is sold for $4090. The world's most important cryptocurrency has raised 8.5% in price, while altcoins has shown the similar results as well.

Such behavior can be caused mostly by the technical and speculative factors - just like any other of main behaviors in the cryptocurrency industry.

Technical analytic from the Fundstrat Global Advisors are keen on the idea of that bitcoin has already reached the absolute deepness (my congratulations!) after what it has started a back trend, the growing one. What is more, they are sure in that long-term bulls should left their positions in the very end.

Bitcoin price is getting ok right now


The tech map

On this 4-hour graph you can see that the BTC/USD pair has got up higher than SMA50 and 4-hour medium line of Bolinger band, what is a very well short-term signal, but at the same time, it can mean that we will feel big resistance when coming to the price of $4200. As soon as bitcoin reaches this raising in price, the price will be consolidated at this level and bitcoin will come to another problem, at this time caused by SMA100 (4-hour graph) but it's going to wait it when the price level gets a bit higher.

On the other hand, the first zone of support is created by a merge of SMA50, psychological level of $4000 price and 4-hour medium line of Bollinger band. If the cryptocurrency rate will be remained lower than these marks, it can start falling down to the $3200.

Relative strength index (RSI) remains the same, but it's too close to the over purchasing area.


BTC/USD 4-hour graph

Taking a powerful price leap that happened on Monday in count, let's take a closer look at the whole situation to think about the perspective waiting for the investors.

From the long-term point of view, bulls will have enough powerful impulse to make the price going up the next main goal for the industry is to reach the price of $4500. It will make it easier to return to the area of $5000, where bitcoin hasn't been since the 19 November.
 
H

hyipdomain

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Verified
Jan 1, 2019
8
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#2
It is hard to say that right now. I think another dump at least to 3000 area is needed.
 

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