Tuesday, April 16, 2019
The level at $5'100 was not supported yesterday. The price dropped by more than $100 in a few minutes.
Actual support/resistance: $5'000/$5'100
The level at $5'100 was not supported yesterday. The price dropped by more than $100 in a few minutes. The bitcoin price even went under $5'000 to recover very quickly. Support at $5'000 is the key level to follow. It is likely that the price will fluctuate between this support and $5'100-$5'200 in the coming days. If this level does not hold, a strong bearish momentum can be expected.
In terms of technical indicators, the RSI(14) is neutral and the MACD lines indicate a trend reversal. Volumes more than doubled during this fast fall followed by an almost immediate recovery.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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