Tuesday, June 18, 2019
The bitcoin price is still driven by the anticipation of the publication of Facebook's white paper.
Actual support/resistance: $9'000/$9'500
Today, facebook will probably publish the white paper related to its Libra project. A cryptocurrency that could be used worldwide. Even if this currency is not in line with the Bitcoin philosophy, this announcement is beneficial for the Bitcoin, the digital gold. This is another step towards mass adoption. In terms of technical indicators, the price has reached a strong resistance at $9'500 and the RSI(14) is in an overbought region. The momentum is extremely bullish and if the resistance at $9'500 is tested again, the psychological mark of $10'000 will be very close. Bitcoin is definitely an exciting asset to follow.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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