Wednesday, May 29, 2019
Bitcoin keeps being traded sideways and its market dominance stays intact.
Actual support/resistance: $ 8'000/$9'200
While we are on an upward trend, the current spike might be a fake out and consolidation on lower prices is still very probable. On the other hand, people are getting more and more bullish as seen with the increasing number of long positions on leverage trading platform.
In terms of indicators, the RSI(14) passed the overbought line and came back in the neutral zone. The MACD lines continue converging and the signal is awaited.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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