WallStreetDope.Com | 6/13/2019
Bitcoin is back on track after the recent consolidation. After the $ 8,000 mark was recaptured on Wednesday night, it will continue its upward movement on Thursday with modest gains. Some experts are already seeing evidence of a new rally.
For about eight days, the Bitcoin was caught in a sideways range between about $ 7,500 and $ 8,100. Above all, the round mark of $ 8,000 has proven to be a hard nut: Several short jumps over this resistance have not proven to be sustainable, the hoped for subsequent gains initially remained.
Late Wednesday afternoon, then the outbreak: With a vigorous movement, the price jumped to just under $ 8,200 to the top. Even if a part of the profits then crumbled off again, he still keeps quite well above the 8.100 mark on Thursday.
Crypto analyst sees opportunity to buy
Rob Sluymer, technical analyst at Fundstrat Global Advisors, now sees good opportunities for further price gains and advises to buy. The reason: Judging by the Relative Strength Index (RSI), the momentum is now starting to turn up again, quotes the Bloomberg from a recent study.
“For most cryptocurrencies, another outbreak seems to be starting up,” said the analyst. “We expect the Bitcoin to start another rally towards the next resistance between $ 8,800 and $ 9,000 from its current level.”
The SHAREHOLDER also sees room for improvement in the Bitcoin. By the jump to the 52-week high at $ 9,008, he has already proven in late May that the end of the flagpole at $ 8,000 is not yet reached. In the medium term, five-digit courses are again in the range of the possible.