empty
 
 
13.05.2019 08:12 AM
BITCOIN Analysis for May 13, 2019

Bitcoin recently was rejected off $7,500 within an impulsive non-volatile bullish trend. The price is currently trading at near $7,000 making a correctional decline in a volatile manner.

The world's largest cryptocurrency hit a new yearly peak at $7,568.32, thus bringing its year-to-date net rebound up to 140 percent according to San Francisco-based Coinbase exchange. The consistent momentum indicates that bulls are currently in control and expected to push the price higher towards $8,000 in the coming days. Moreover, online investment service TD Ameritrade began offering stimulated bitcoin trading through Nasdaq, raising hopes that a full-fledged bitcoin adoption was underway.

Currently BTC price is trading firmly above $7,000. MACD showing a squeezing bearish histogram signals a bounce off $7,000 that may push the price towards higher with a target towards $8,000 in the coming days. After certain corrections and false breaks below $7,000, the bullish pressure is constant. Besides, being above the dynamic level of 20 EMA reaveals the continuation of the bullish momentum. As the price remains above $7,000 area further upward pressure is expected in the future.

SUPPORT: 6,500, 7,000

RESISTANCE: 7,500, 7,750, 8,000

BIAS: BULLISH

MOMENTUM: VOLATILE

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback