empty
 
 
30.05.2019 12:22 PM
Bitcoin to hit $10,000 soon. May 30, 2019

The uptrend of Bitcoin continued after a retreat towards the $8,500 area with a daily close. At the moment, the price is pushing higher, however, being restrained by the dynamic support level of 20 EMA.

Bitcoin is currently trading at $8,700, up significantly from the daily lows of just above $8,400 that were set last night. Analysts say that the range between $8,200 and $8,400 is a key support zone that BTC must not cross in order for its upward momentum to remain.

After two months of a relieving rally, BTC prices are pulling back. It's nothing new. Extended gains, rallies and cool offs are typical in healthy markets, and Bitcoin is no exception. Besides, there is nothing to worry about considering significant developments and shifting sentiment in the last few years. Moreover, changing political stands could thrust Bitcoin into the scene. Gradually, BTC will be more than a medium of exchange but a settlement layer and a store of value. By the end of the year, BTC is anticipated to soar above $20,000, to prices unseen before.

On the contrary, one strong indicator that altcoins are about to make a revival is the fall in Bitcoin market dominance. Today it has fallen back to 55.3 percent, its lowest level since the beginning of the month. BTC dominance is still up compared to earlier this year but the slow decline could be a sign of altcoin resurgence.

As for the current scenario, BTC continues its uptrend aiming the $9,000 area again. A breakout above this level with a daily close is to lead the price higher towards the $10,000 psychological level. As the price remains above $8,000 with a daily close, the bullish bias is expected to remain.

SUPPORT: 8,000/8,400/8,500

RESISTANCE: 9,000/9,250/9,500/10,000

BIAS: BULLISH

MOMENTUM: VOLATILE

This image is no longer relevant

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback