During today’s session the price of Bitcoin seems to be recovering ground to increase more than 5% raising the price above $ 3500 dollars, a boost that has attracted the attention of investors causing a surge of purchase at least for now.
The strongest resistance for the BTC is in the $ 5000 so it is important to note that we can still see a recession up to $ 3000, we must be careful with this type of movements since on other occasions traders have trapped many traders at the moment of the correction.
- Bitcoin recovers more than 5%
- RSI approaches the 50% level
- The level of momentary optimism increases
Analyzing the BTC / USD chart in a one-day timeframe, we can see how the price of Bitcoin has found a bullish momentum in the last few hours stopping the fall we had experienced and which was expected to hit the $ 3000 support during today’s session.
At this time the EMA 9/26 moving averages continue in a bearish area, so Bitcoin must overcome the resistance in the $ 5000 to experience a real improvement in the price. The purchase volume level of BTC has increased allowing the bulls to take over the session for the second consecutive day.
The current crypto market is at $ 115, 095, 473,419 a fairly low number compared to the figures at the beginning of 2018.
- EMA mobile medium 9/26
- RSI (relative strength index) 40%
- Support $3000
- Resistance $5000
This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.