Thursday, July 4, 2019
After the pump to test the $12'000 resistance, the price slightly backed down but stays above the 20 days moving average.
Actual support/resistance: $10'400/$12'000
Our community stays very bullish in this five digits market. We can expect it to be rational, even though the Bitcoin is consolidating, there is a strong buying pressure. It seems that many supports are ready to hold the price. Furthermore, the number of active addresses keeps increasing, probably due to the many new users joining the cryptocurrency space. With this information, we can rest safely while the prices don't drop below $10'000. However, even in the Bitcoin market, we shall not forget that more than 10% gain in a day is a big step and corrections are perfectly normal.
The RSI(14) is in the neutral zone and the MACD lines are signalling that the downside momentum that started the 27 June is reducing.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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