Tuesday, May 28, 2019
After the last spike, the new high was maintained, even more, the prices poked just below $9'000.
Actual support/resistance: $8'000/$9'200
Since the start of bull run of March, the prices have taken off by big jumps only. Many indicators tell us that this lead to an overextend, meaning a rest or even a drawback is expected. Regarding the price at which it will happen, we have no clear resistance that can be seen at our current level. During the bull market of 2017, the prices jumped from $5'000 to $18'000 without resting. During the bear market of 2018, the fall was less abrupt but no clear sign of key level was left behind. This doesn't mean that our current run will never stop, simply that the past trades do not give us many information where we can expect a change.
The RSI(14) is still overbought and the MACD lines are now parallel.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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