Tuesday, April 23, 2019
All signals are green. In two days, bitcoin broke through three resistances easily. The key level of $6,000 is getting closer and closer.
Actual support/resistance: $5'500/$5'650
In less than two weeks, the price has won more than 10%. The current trend is very bullish after seeing the bitcoin traded sideways for a few days. With an increase in volumes of more than 110% over yesterday, the buying pressure has easily increased the price above $5'500. The next major resistance is the key level of $6'000. Before this level, it is likely that the price will stabilize for a while above $5'500.
In terms of technical indicators, the MACD lines suggest a bullish momentum and the RSI(14) is overbought. It is the first time since 2015 that the 50-day moving average has crossed the 200-day moving average: the so-called bullish golden cross.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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