Monday, August 5, 2019
The price flirted with the $11'000 resistance and ended up breaking it this morning, a strong bullish move.
Current support/resistance: $11'000/$12'000
The steady rise of the last two days increased drastically this morning with a climb of 7%. The price is now correcting the gains. The source of this rise is blurry but it seems to coincide with a Tweet from Donald Trump on the trade war which also pushed the Japanese Yen, Swiss Franc and gold higher. Overall, the macroeconomic conditions are favorable for a bull-run.
The indicators are shining green light, with the MACD lines diverging and the price well above 20 days moving average.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
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