The past week brought us not only in many places, summer temperatures, but sunshine on the crypto market. The Chart of Bitcoin gives positive signals, including recent Events contribute to a good mood.
You look at the Big Picture of Bitcoin, so you could be confident. After the support from February, currently at approx 5.500 Euro, now several times tested, but was not broken significantly, it can be assumed that a stable Support is formed.
Detail View Of Bitcoin
We want to take a look at the Detail: The ordinary Pump on the 12. April picked up Bitcoin to a whole new Level. The signs are good: by The Triangle Pattern defined Resistance of 7,350 Euro, a positive breakthrough is on the Basis of the positive indicators. The current RSI of just under 60 gives a lift and simultaneously allows a little air to the top. Also, when MACD is in the Green: The MACD line has broken through the Signal line, and thus a further boost to hope. As the next price target we could aim for, therefore, a value of 7,500 euros.
The overall market is on the right path
The Top 10 Coins on the crypto market can be observed in the last week, all have a positive Performance. In addition, the market capitalization increased compared to last Monday at 18 per cent to 322 billion euros.
The good crypto-weather is likely to be due to Events in the recent past. Christine Lagarde, the Head of the International monetary Fund, commented in a blog article of the IMF’s positive view of the Blockchain. Lagarde, who had previously not much for the Blockchain and crypto-currencies, losstoßen hereby, of course, a knock-on effect on the traditional financial industry.
Moreover, Islamic clerics have spoken in favour of Bitcoin as Sharia is compliant. Thus, the hurdle could be like for Islamic citizens to invest in the crypto currency. In addition, the Goldman Sachs-funded company Circle has increased its minimum investment amount for OTC transactions in crypto-currencies from 250,000 to 500,000 US dollars. The increase took place with the justification that it was a robust market.
In General, the mood on the crypto market has become more friendly. The voices calling for a “bubble”, are silenced to a large extent after cooling. So that you can move around the course slowly in the direction of the North.