Bulls may soon be “escape the stall” — the stock market is on the verge of a new leap of prices of Bitcoin. According to analyst Joe Maccana, technical MACD indicator scale 1-daily chart indicates a bullish crossover. On the chart McCann noted the intersection of two moving averages 12 and 26 EMA.
Tonight, Bitcoin was trading at 10 dollars a 404. In the past 24 hours the cost of the home cryptocurrency decreased by 1.86 percent. At the scale of one week BTC fell by 7.4 percent.
It’s time to open long?
McCann said that the last two times the intersection of the marked lines, they became the reason for the rapid growth of Bitcoin — just a couple of weeks, the cryptocurrency rose in price by at least 60 percent. If the script again and this time, BTC will rise up to 17 thousand dollars. The asset will be only 3000 us dollars from its historic high.
Note that the intersection of the lines has not yet taken place. To confirm bullrun need to wait at least five days. Then the market situation will become clear whether BTC have the potential to grow.
MACD Crossover soon come.
— Joe McCann (@joemccann) July 20, 2019
By the way, tomorrow will be one of the most anticipated events in the stock market — launch trading in futures on the Bitcoin on the trading platform Bakkt. The latter is the brainchild of NYSE — biggest stock exchange of the United States. Experts of analytical Department Fundstrat expect with the launch of Bakkt industry interested in a huge number of institutional investors.
As we wrote before, Bakkt will destroy many barriers to mass adoption of cryptocurrency.
There is a flip side of the coin. As Bakkt wait for many, the impact of start trading platform price of Bitcoin may be minimal. In other words, all who hoped for the growth of the main digital asset 22 July, have already purchased BTC.
After the launch of the platform may be a dump. In the history of the stock market a lot of examples when after the expected investors event the price of Bitcoin fell sharply. This can be explained by the rule “buy the rumour, sell the news”. You have to buy crypt is better on the rumors about the alleged event, and to merge immediately thereafter.
Now Bitcoin is above 10 thousand dollars, but some experts are still waiting for a reduction in the price of BTC up to $ 8,000. What are your thoughts on the future of cryptocurrency? Share them in our chat holders!
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