Wednesday, May 22, 2019
The prices seem to stabilize in the $8'000 zone, not being affected by the Thether, Craig Wright or ETF news.
Actual support/resistance: $7'800/$8'000
The price keeps on bouncing back on the $7'800 support but the volume are decreasing. Tether is back in the news: it has been confirmed that they invested in bitcoin and other investment instruments. This poses some question about the fundamental of this Stablecoin. Additionally, the ETF (Exchange-Traded Fund) which is a more traditional asset based on the price of the bitcoin allowing bitcoin to be traded in WallStreet, have been delayed again. The last headline was Craig Wright pretending to be Satoshi Nakamoto. The prices not being affected by those "negative" news shows a deeper stability in Bitcoin.
In terms of technical indicators, the RSI(14) stays in the neutral zone and we can expect the MACD lines to intersect very soon.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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