A few days ago on the market there was a surge of activity of buyers, after which Bitcoin has set a new year high value fixed above $ 9,000. Unfortunately, the bulls did not manage to advance above 10 thousand dollars. Some experts believe that a break of this resistance level will denote the official beginning of a new bullrun a period of several years.
At the moment Bitcoin is trading at 9117 dollars. For the past day, the price of cryptocurrency has not practically changed. For the week, BTC has increased almost 16 percent, while the index of its dominance has reached the level of 56.8 per cent.
Fall is Bitcoin?
Since the beginning of this year, every notable wave of growth of the main digital asset was accompanied by a relatively short period of consolidation. During the formation of the uptrend, has had a few setbacks, but none of them have not yet developed into full-fledged fall.
Cryptanalysts say that to continue the upward movement the Bitcoin’s price must remain above 8980 dollars.
I am glad that before the next leap up was a setback. Buyers have shown a lot of interest in the asset at the level of $ 8950. I would not like to see the closure of candles 1-hour chart below 8980 dollars.
$BTC — $8950 tagged ✔
I’m actually glad there was a breakdown before a move up. A potential breakdown would have been hanging over my head.
Strong reaction from $8950. My areas of interest still apply. Do not want to see a 1h close below $8980. #Bitcoin pic.twitter.com/PgwnefY0h2
— UB (@CryptoUB) June 18, 2019
Endless growth of Bitcoin
From the point of view of technical analysis chart cryptocurrencies is looking very bullish. Trader Josh Rager said recently that technical indicator Super Guppy for the first time in quite a long time began to signal an uptrend.
Finally it happened. The Super Guppy was painted in green on the 1 week chart. 2012: after the first turn of the indicator was followed by a 400-day uptrend. 2016: 700-day uptrend after moving the Super Guppy into the green zone. 2019: the Super Guppy for the first time highlighted in green, so ahead of us a generous bull market.
It’s finally here…
The Bitcoin Super Guppy has flipped green on the 1-week chart
2012: 400-day uptrend followed a flip green
2016: 700-day uptrend followed a flip green
2019: the 1W Super Guppy has finally flipped green and it shall be a bountiful market the next few years pic.twitter.com/6zAn1qgtBy
— Josh Rager ? (@Josh_Rager) June 18, 2019
Note that now Bitcoin is above $ 9,000. This is a positive sign, however, to open a large long position is not worth it. The likelihood of a big pullback, though small, but there. More risky traders can long trades for the purpose of fixation arrived in the area of 9600 dollars. The final signal for the game to improve will be a break of the resistance at 10 thousand dollars.
The situation on the market follow our cryptodata of hontarov. Also don’t forget to visit mining pool 2Miners.
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