Bitcoin continues its parabolic rise.
Actual support/resistance: $6'100/$6'400
Bitcoin continues its parabolic rise. The total market captilazitation is approaching $200 billion, indicating that the increase in the price of bitcoin is not only driven by the flow from altcoins. In terms of resistance, the current level should still slow down the current rise. However, with the increase in volumes and renewed interest illustrated, for example, by google searches, it is likely that the $6'800-$7'000 region is relatively close. The technical indicators are bullish. On the weekly chart, the RSI is approaching an overbought zone that has not been observed since December 2017.
Disclaimer: This is our way of communicating with our community. It is meant to be used for informational purposes not to be mistaken for financial advice. Our opinion, when shared, is just that, it may not apply directly to your individual situation. Any information gleaned here is to be used at the readers' own risk, SwissBorg does not accept any responsibility for individual decisions made based on reading our daily blog. Any information we provide on our daily blog is accurate and true to the best of our knowledge, there may be omissions, errors or mistakes. Copyright © 2019 SwissBorg, All rights reserved.