The price action of the last few days was undoubtedly positive for Bitcoin. An example: The crypto-currency rose within 48 hours by over 20% by the middle of the 7,000-Dollar brand on a price of up to $ 9,500.
Since then, prices have consolidated at 8,800 $ where BTC between support at about $8,500, and a resistance to the increasingly important level at $9.000 was stuck.
While some believe that this price action is suggesting that Bitcoin has soon reached the peak, suggests a leading analyst firm Wall Street: The recent rise is just the beginning of a larger crypto-market-rally.
Bitcoin is preparing to exceed$ 10,000 to re: Fund entered
In a Thursday research note, David Grider, senior digital strategist of Wall Street,-writes analysis company Fund joined Global Advisors: His company is bullish on Bitcoin, he said, in particular, the halving as a positive catalyst:
“We are in the next 12 months with optimism and expect the prices to [halving], and may then further rise will be.”
Marketwatch commented on this note that the Fund entered on the assumption that the crypto-currency will double in the next 12 months, acquired 14,350 own USD almost.
Fund joined co-founder Thomas Lee shared the positive mood on Twitter, and explained that the year to date performance of the Bitcoin evidence that the Asset is to serve not only the halving of professional animals, but also as a “solid, risk-free investment and as a hedge against disasters”.
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There are other positive signs
This is the fundamental confluence, the analysts of the Fund darglegen occurred, further indication signals from the technical analysis, according to which Bitcoin itself prepared, in a bull Phase.
A Trader has already established that Bitcoins strong recovery from the beginning to the end of April, allowed it to close above a key level on the monthly chart.
This is for BTC is of importance, since Bitcoin has claimed this technical level for the last Time in early 2016, as the crypto-currency was traded to US $ 500. What followed was a nearly 4,000% in a rally that brought the crypto-currency is just 20 months later, to 20,000$.
Add to that the Bitcoin recently brought a strong technical achievement: He has managed to skip without a lot of resistance to 6,400 dollars to claim and then the level as a support, he bounced off of it.
This is important, because of $6,400 in the last 18 months, the key to BTC and acted on many occasions as a turning point for this market. The re-conquest of this level by Bitcoin leads to the idea that the crypto-currency entry in a medium-term upward trend.