The bitcoin price is still driven by the anticipation of the publication of Facebook's white paper.
Actual support/resistance: $9'000/$9'500
Today, facebook will probably publish the white paper related to its Libra project. A cryptocurrency that could be used worldwide. Even if this currency is not in line with the Bitcoin philosophy, this announcement is beneficial for the Bitcoin, the digital gold. This is another step towards mass adoption. In terms of technical indicators, the price has reached a strong resistance at $9'500 and the RSI(14) is in an overbought region. The momentum is extremely bullish and if the resistance at $9'500 is tested again, the psychological mark of $10'000 will be very close. Bitcoin is definitely an exciting asset to follow.
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.