Friday, June 14, 2019
The price has risen above the 20-day moving average. A bullish sign.
Actual support/resistance: $'8100/$8'400
Despite lower volumes than in previous weeks, the momentum is bullish. This is illustrated by the MACD lines which converge and are close to crossing each other as well. If the bullish momentum continues and the current resistance zone is breached, we can expect a new rally that can go beyond $9'000. This upward trend is accompanied by positive news: the google trends for "bitcoin" is at a level equivalent to that of 2017 at the beginning of the bull marker and the Institutional cryptocurrency platform, Bakkt, has announced that they will test its physically-delivered bitcoin (BTC) futures on July 22.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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