After being traded sideways for a few days, the price finally broke through the $5'800 resistance to hit $6'000, the key level.
Actual support/resistance: $5'800/$6'000
After being traded sideways for a few days, the price finally broke through the $5'800 resistance to hit the $6'000, the key resistance. This level had not been reached since November 2018. Bitcoin has finally reached its zone of highest resistance between $6'000 and $6'500. It is very likely that this area will not be crossed immediately and it is possible that a correction will be found if the buying pressure is not sufficient. However, the technical indicators are in green with diverging MACD lines and an overbought RSI(14). The market is close to the 200 billion of dollars in terms of market capitalization thanks to, in addition to bitcoin, a performance of nearly +10% for Ethereum.
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.