Bitcoin above $ 4,000. Beginning bullrun or just a small pullback?
Source:Yesterday was finally able to break through key resistance at $ 4000 and continue its growth. Cryptocurrency begins to form new uptrend on a smaller scale, and the market situation is gradually changing in favour of the bulls. Is it possible to speak about the complete end of the bearish trend? Some traders that bullrun now will have to wait.
The Overall situation looks like this:
the-
the
- the price of bitcoin has been able to hold above 4050$; the
- for the 1-hour chart is still valid uptrend with the next support in the area of 3850 dollars; the
- asset is still in a consolidation phase and might continue to increase in the coming days.
At the moment, Bitcoin is trading in the zone 4090 dollars. The value of the cryptocurrency is practically not changed over the past 24 hours.
theTechnical analysis
The long-Awaited event happened — Bitcoin is showing the first signs of a gradual attenuation of the bearish trend. During its recent growth, the asset was able to consolidate above the psychologically important support level of $ 4,000. Bitcoin has also formed a new weekly high at the point 4173 dollars and dropped a little lower.
Now the price of Bitcoin is much higher than the 100 SMA moving average scale 1-hour chart. The Fibonacci 0.5 level, laid on a wave of growth from 3657 to $ 4,173, can serve as a good support point 3915 dollars. Just below is a trendline, which will also help the bulls to push the price of the asset up.
If in the near future will happen relatively strong correction, it is unlikely that it will extend below the level of 3,770 USD. In an extreme case, the new solid support will perform line 3655 of dollars, undergoing 100 SMA.
Source: NewsBTC
Technical indicators while talking about a possible pullback below. MACD gradually comes to the bearish zone and the RSI is below average.
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
Beginners often seen in the crypto currency tool that allows you to go beyond the state framework, and almost to gain superpowers. The reality is a little more modest. For example, the same transparent blockchain, which users can ...
CEO Binance named 2018 as the year of correction for cryptocurrency. What does it mean?
Director General Binance in an interview with Bloomberg expressed optimism about the future of cryptocurrency. He also reflected on the bear market throughout the current year with a sharp drop, which came in November. In his opin...
What is hardwork? Explain on the example of Bitcoin Cash
November 15, 2018, hosted one of the biggest events in the industry of cryptocurrency — hardwork . To the end around this procedure, there were many inaccuracies in the media, so as to understand the intricacies of creating forks ...
Back to school: Coinbase will allow you to capitalize on their knowledge about cryptocurrencies
Cryptocurrencies have become a major topic for the world media a year ago. Then the Bitcoin interested in beginning huge number of investors. However, even now they don't know the blockchain and mining. The leadership of the main ...
Cheap shovels: price of the most popular graphics card from AMD fell to 67 percent
AMD Radeon RX580 has gained immense popularity among the miners in 2017. In February of 2018 representatives of this model GPU has become so little on the market that its price jumped up to $ 550. However, today the card can be ea...
Only 37 percent of the addresses are considered "economically significant". How to understand this?
December 19, the research firm, presented an interesting report. It says that only 37 per cent of the total number of addresses have economic value. According to the data, today the network consists of 460 million wallets that are...
Coinbase moved five billion dollars in the crypt to a new purses. What is the reason?
Coinbase is going to seriously increase the number of supported cryptocurrencies. To ensure maximum security for their customers, the exchange needs to rethink ways of storing billions of dollars. Company representatives warned th...
Philanthropist of the year. Acne Buterin gave CryptoStream 300 thousand dollars because of Twitter
the Creator of Ethereum donated 300 thousand dollars in three bitcoin blockchain startups. This is probably the solution came to him in the process of discussion on Twitter. Grants in the amount of 1 thousand ETH projects received...
Expert: the stock market is still in a downtrend
Peter Brandt has become quite a well known figure in cryptosphere over the last couple of years. Prior to his fascination with the Bitcoin trader worked successfully with many traditional markets. At the end of Jan Brandt did the ...
Pump and dump: the stock market is significantly exposed to the schemes of manipulation
According to a recent study, the scammers successfully manipulate the price of digital assets, including Bitcoin. This allows them much more expensive to sell their assets to unsuspecting traders. The researchers found almost five...
Halving Bitcoin will come in 500 days. What will happen to the price of cryptocurrency?
To halving there are exactly 500 days, and therefore reducing the reward for a unit of cryptocurrency will begin to influence its price not so distant future. According to Bitcoinist, the previous procedure of halving always cause...
Project of artificial intelligence technology giant Google considers Bitcoin to «the bursting of the economic bubble». Resource Bitcoin.com tried to figure out what it is. It turned out, erroneous determination of the wo...
The power of memes: Dogecoin is the most popular cryptocurrency after Bitcoin and Ethereum
Dogecoin is often considered a joke in cryptocommunist, as all cryptocurrency is based only on the meme. However, the comic project has managed to survive hundreds of serious, major and ambitious ICO. While DOGE use quite often be...
Miners extracted 90 percent of all coins Monero. What's next?
Despite a bear market for most of the year, an anonymous coin and holds its position due to strong demand among long-term investors. According MoneroBlocks.info miners already got 16,65 миллионf coins, while withpaper project tota...
Expert: Bitcoin will not fall below $ 3,000
the founder of the Foundation Galaxy Digital Mike Novogratz is not waiting for new lows . According to experts, the price of the home cryptocurrency simply cannot decline below the current levels. He stated this in an interview wi...
It's time for a reversal: a well-known trader has closed his the longest of the shorts this year
a Year ago, Bitcoin reached its historic high of 19 511 dollars for 1 BTC. A few days later a former economist at the International monetary Fund's mark DOE made his prediction. The trader said that the cryptocurrency will not be ...
BitMEX CEO: in the future, the trading will be round the clock
the Founder and CEO exchange BitMEX, Arthur Hayes recently was a guest of the podcast Laura Shin Unchained, which was held in the framework of the CME Global Leadership conference in Naples, FL. One of the main topics of discussio...
Bitcoin has grown 20 percent in three days. What's next?
in Less than three days the price of Bitcoin had to grow up with 3181 to $ 3880. According to Coinmarketcap, the growth of average prices by the largest stock exchanges amounted to almost 20 percent. During a short bullrun happene...
Comments (0)
This article has no comment, be the first!