Bitcoin saw an increase of 4.6 percent. The global pandemic risk seems to still affect the traditional market and the current Bitcoin price. A bitcoin whale made a massive transaction, should we expect an effect on the market?
Current support/resistance: $8'500/$8'900
The price is currently oscillating around the current price support. EWMA(12) and EWMA(26) are diverging while MACD still is in the red. The SMA(20) stays above the SMA(200) but tend to slowly converge towards each other. Should we soon expect a golden cross ? The RSI seems healthy at around 40.
The overall Bitcoin network looks healthy but is suffering from some market correction due to huge bullish trend of the past weeks.
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.