Wednesday, May 8, 2019
Despite Binance's hack and a small drop, prices keep a good figure.
Actual support/resistance $5'700/$6'000
Binance’s CEO Changpeng Zhao announced in the late evening, a major hack occurred on their platform for a total of 7'000 Bitcoins (~40 millions dollars). Shortly after that the price fell from $5'900 losing 3% of its value and getting back to the price of the day before.
The indicators still show good performances with MACD diverging and RSI(14) still overbought. We saw that this type of news is not enough to reverse the current Bullish momentum, however, it is not ideal for attacking the major resistance of $6'000.
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.