Friday, April 12, 2019
A very strong correction was noted yesterday. The support broke and the price dropped quickly. Bitcoin even tested the 4,900$ support level last night before reacting quickly.
A very strong correction was noted yesterday. The support broke and the price dropped quickly. Bitcoin even tested the $4'900 support level last night before reacting quickly.
The next few days will be critical, if the price manages to stay above $5'000, the current correction could be healthy for the future. However, there is not much support left before reaching $4'800 again, the last barrier before risking the $4'200.
If the buying pressure runs out of steam and volumes decrease, we can expect a bearish trend in the coming days.
The indicators are showing a reversal of the trend with, in particular, the MACD lines converging quickly.
Actual support/resistance: $5'000/$5'100.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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