Friday, August 2, 2019
More than 10% gains over the last 3 days and now consolidating, Bitcoin is showing some solid growth potential.
00:00 UTC
CyBorg Predictor
SwissBorg Community
Current support/resistance: $10'200/$10'800
After a week-long of testing the $10'000 resistance, the price finally broke up opening the door to new gains. This surge coincided with the Fed announcing to cute rates. It indicates an economic slowdown which is a great incentive to invest in other forms of assets. Bitcoin, sometimes considered as 'digital gold', is a direct target for this type of investments.
This pump was able to maintain itself long enough to turn our indicators to bullish. We are now trading above the 20 days moving average and the MACD lines have crossed. The RSI(14) is trading in the neutral zone with enough room for further growth.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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