Tuesday, May 14, 2019
Bitcoin continues its parabolic rise. The volumes have literally exploded and we are closer and closer to $8'500.
Actual support/resistance: $7'500/$8'500
Bitcoin continues its parabolic rise. The volumes have literally exploded and we are closer and closer to $8'500. A level not reached since July 2018. All indicators are green, and the momentum is as bullish as at the end of 2017. The market is driven by bitcoin for now, the king is approaching 60% of dominance, a value not reached since the end of 2017. It is likely that, once bitcoin has stabilized, the altcoin market will also turn bullish later on.
In addition to the incredible recovery observed in recent weeks and the renewed attention of traditional media, Amazon's Whole Food and Starbucks has announced that they has begun to accept bitcoin.
One of the most exciting periods for the Bulls and the end of the bear market.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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