Tuesday, September 3, 2019
Bitcoin recovered above $10'000 with a gain of more than 6% in 24 hours.
Current support/resistance: $10'000/$10'400
Following the Bitcoin is definitely exciting, in a few hours, a spectacular rally was observed. This one started at the moment of breaking the resistance at $9'800 to quickly pass the $10'000 and find a strong resistance at $10'500. This upward movement pushed the price above the 20-days moving average and the MACD lines crossed indicating a bullish momentum. The RSI is also in a neutral zone after this strong buying pressure.
We are getting closer to money time in this downward triangle because the price is always inside it. If the price manages to pass above the trend line (which is around 11'000) we can hope for a violent break on the upside. However, if this is not the case, it will be necessary to monitor the $10,000 support. A passage under it would be strongly bearish after the current movements.
The analysis is based on the latest close price (00:00 UTC time, daily basis)
Disclaimer: This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice. Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes. Copyright © 2019 SwissBorg, All rights reserved.