latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Bitcoin Price Analysis: BTC Finally Breaks Up, 2019 New High Soon?

Bitcoin Price Analysis: BTC Finally Breaks Up, 2019 New High Soon?
After ten days of consolidation, Bitcoin finally manages to break up the $8200 – $8250 resistance area.
Since retesting the critical support at $7500, Bitcoin has seen four consecutive days of gains, whereas the coin keeps following the mid-term ascending trend line (marked in orange on the daily chart).
On our recent analysis, we mentioned how important it is for BTC keep above the mentioned $7500 area, and that in that case, the coin can go much higher.
Bullish sentiment is coming from the Stochastic RSI oscillator: Recently, it had gone through a cross over in the oversold area and entered the bullish territory.
Total Market Cap: $266 Billion
Bitcoin Market Cap: $147.5 Billion
BTC Dominance: 55.4%
Looking at the 1-day & 4-hour charts
– Support/Resistance:
From above, following the breakout of the $8200 – $8250 area, which includes the 4-hour chart’s MA-100 (marked with a white line), Bitcoin is now facing resistance levels at $8400, $8500, $8800 and the 2019 high around $9000 – $9100.
From below, the nearest level of support is now the resistance turned support level at $8000 – $8100. Below lies the $7700 – $7800 area. Further below lies $7600 and the strong support at $7500 (the low of the past week).
– Trading Volume: A 5-days high followed the recent move, however, the volume is not significant yet (compared to May 2019).
– Daily chart’s RSI: After forming a double-bottom around the 47 RSI level, the indicator had seen a nice increase back to the 56 area, which is the bullish territory, with a space to go higher. As mentioned above, Stochastic RSI had recently gone through a cross over in the oversold area, which could turn into a bullish move.
– BitFinex open short positions: Along with the rising Bitcoin, the short positions are rising as well. There are currently 20.8 K BTC of open short positions, which is a 10-day high.
BTC/USD BitStamp 4-Hour Chart

BTC/USD BitStamp 1-Day Chart

The post Bitcoin Price Analysis: BTC Finally Breaks Up, 2019 New High Soon? appeared first on CryptoPotato . shares this Contents always with License.

Thank you for Share!


Search Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


24h Most Popular News

Please consider to Support!