The BTC exchange rate has today exceeded at 07:45 PM CET on briefly with the psychologically important 8.000 US-Dollar-brand. So Bitcoin moves further upwards.
Two weeks ago, the price rally that accelerated the heartbeat of many a Bitcoin Investor. In the Knowledge of the volatility of the crypto markets, many have urged caution. Others have already hear the cops knock on the door. The weekly chart provides some evidence that the Bitcoin could move the course in fact, gene bull market.
First of all, our attention should, however, apply to the Course over the last 24 hours:
A glance at the course of the day shows that the price of Bitcoin ends the exponential moving has overcome average EMA100 (red line in the first Segment) in a sustainable manner. In addition, the Resistance of a since the beginning of March followed a downward trend could be broken. The positive, rising MACD lets hope for a continued positive development of the Bitcoin price. In the short to medium term, however, according to the overbought RSI to a consolidation.
Bitcoin Hodler can hope
From a long-term perspective, a very interesting of the week’s chart: You can see that the course MA20 is currently slightly above the moving average, a line that was in the past an effective means for distinguishing between bull and bear market.
The course should be sustainable, it is assumed that a new upswing for the course. A comparison with the past, this hope for a little more floor: the RSI is in the past Try to overcome the MA20, about as high as it is now, however, the MACD (see the middle Segment) is different than in February and April on the rise. The bullish Crossing between the MACD line (blue) and Signal (orange) is not a guarantee, but it was in the past a harbinger of a sustainable bull market. Therefore, we can be cautiously optimistic that the upswing continues for Bitcoin.
Also in terms of the market dominance of Bitcoin can Shine again: The market share of Bitcoin has increased to an impressive 47 percent and around seven percent over the previous year average. It will now have to show whether also the Altcoins will benefit from it. Finally, the way to Altcoins is mostly on Bitcoin.