Friday, June 21, 2019
New yearly high for Bitcoin. The psychological level of $10'000 is close.
Actual support/resistance: $9'500/$9'800
Bitcoin broke the $9'500 resistance easily and is now tackling the last resistance at $9'800 before the psychological level of $10'000. The market has surpassed the $300 billion mark. After the announcement of Facebook, the cryptographic world is in the center of attention. After concerns about the impact on Bitcoin price, event David Marcus, the current Vice President of Messaging Products at Facebook, said Libra was not a threat to bitcoin. All indicators are in green and the price will probably test the $10'000. Resistance is expected to be important at this psychological level and it is very likely that it will not be broken during the first test. However, if the price rises above this level, we can expect a spectacular rise to quickly reach the $13'000-$15'000 region.
In terms of technical analysis, all indicators suggest an overbought market with extremely bullish momentum.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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