the daily chartist

BTC awakening from its slumber

published 6 years ago
BTC Daily

Bitcoin finally woke up from its slumber as almost no activity was shown for the past 9 days and now the price has rocketed from 429.591 towards 448.899. There is a potential for the price to test 455.238 - the recent high point and also a strong sell zone. Overall there hasn't been any reaction from the cryptocurrency on the recent events, but the sudden jump may be explained from the activity in China as their market is crashing everyday day with 6-7% and then halted, money flow is being directed to the crypto markets. Litecoin also jumped on the activity from 3.44444 to 3.56904 with the potential to test 3.59720. 

 On the long-term perspective if demand continues, there isn't much of a resistance on the top side. 457.677 remains to be breached  and afterwards, climbing is easy for a determined test on 759.003. Sell and buy zones will be formed as the movement progresses and where the price is making a correction. Potential in the cryptocurrency market is rising for more often "to the moon" events.