After the last spike, the new high was maintained, even more, the prices poked just below $9'000.
Actual support/resistance: $8'000/$9'200
Since the start of bull run of March, the prices have taken off by big jumps only. Many indicators tell us that this lead to an overextend, meaning a rest or even a drawback is expected. Regarding the price at which it will happen, we have no clear resistance that can be seen at our current level. During the bull market of 2017, the prices jumped from $5'000 to $18'000 without resting. During the bear market of 2018, the fall was less abrupt but no clear sign of key level was left behind. This doesn't mean that our current run will never stop, simply that the past trades do not give us many information where we can expect a change.
The RSI(14) is still overbought and the MACD lines are now parallel.
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.