Friday, May 3, 2019
Bitcoin easily passes the low resistances at $5'400 and $5'500. The next step is the previous high at $5'650.
Actual support/resistance: $5'400/$5'650
Bitcoin easily passes the low resistances at $5'400 and $5'500. The next step is the previous high at $5'650. All the signals are green. The RSI is overbought and the MACD lines will soon cross. Although the volume has not increased significantly, the buying pressure is important. If the price rises above $5'650, it is likely that bitcoin will quickly reach $6'000 where a strong resistance will be noted. The market in general is driven by bitcoin, which now has more than 55% of total market capitalization.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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