Thursday, May 2, 2019
Bitcoin managed to maintain itself above $5'300. A bullish sign after last week's drop.
Actual support/resistance: $5'300/$5'400
The momentum is still bullish. Despite the fact that the price briefly dropped below $5'300, bitcoin managed to stabilize above this support. However, the buying pressure is not strong enough to go back above $5'400. Unless volumes increase, it is likely that bitcoin will be traded laterally for the next hours.
In terms of technical indicators, the MACD lines are gradually converging, RSI is slightly overbought and the price is still above the 20-day moving average.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
Disclaimer: This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice. Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes. Copyright © 2019 SwissBorg, All rights reserved.