Cryptocurrency

Bitcoin jumps over the USD 8.500

The market crypto dawned green, with positive returns really interesting. Bitcoin and Ethereum have increased in price by more than 7% in the last 24 hours, while Ripple has generated a 5.78% of the profits. The most highlighted in the top 10 of the cryptocurrencies with the greatest market capitalization, is Bitcoin SV, with more than 47% of performance in the last 24 hours; this follows Bitcoin Cash, with 15.94%. Cryptocurrencies sorted by market capitalization. Source: CoinMarketCap The bullish trends that have enveloped the major currencies has led to such performance. The dominance that has Bitcoin on their descendants down the most. If we know the current situation of this, and its possible development, we can say that we have an overview of the market crypto; for this reason, you will get below the technical analysis of the first-born.

Technical analysis of Bitcoin in temporalities daily and weekly

From the daily chart we can observe as Bitcoin is already in the search of a next highest maximum, the structure of the uptrend in which it is located. The EMA and 8 SMA 18 are kept crossed to the upside and they worked as excellent supports mobile in the midst of the escalation of the price. The SMA of 200 days is still bearish, and it may be a major barrier when the price reach the $ 9.150. Technical analysis of Bitcoin from the daily chart, The RSI of length 5 in the temporality of daily keep it above 50, supporting the scenario bullish for the short term. RSI on the daily chart BTCUSD From the temporality weekly we can see a scenario very positive, and that is that the current candle is above the EMA and 8 SMA 18, currently bearish, but with a high probability of crossing to the upside in the next few hours or days, depending on the strength of the momentum that is currently developed. EMA and 8 SMA 18 on the weekly chart of Bitcoin On previous occasions we have seen the importance of these crossings, at the time of defining the trend with respect to the price in the temporalities under the weekly. The last 4 crosses have demonstrated its validity, with strong impulses in favor of this signal in the subsequent weeks. The slow moving average of 200 weeks remains to the upside, and despite the fact that can be sought in the coming months, it is possible that since the bottom of the pullback that was experienced in the last few months has been achieved. Weekly chart of Bitcoin vs us Dollar

Temporalities intraday

The chart with candles of 4 hours, maintains a very clear succession of minimum increasingly high, the main distinctive of a bullish trend. The last resistance closer has been broken, and it is likely that a small throwback to the same has been enough to continue towards the next objective. Moving averages EMA and 8 SMA 18 are crossed to the upside, and away from the current price. The SMA of 200 sessions is bullish, due to its location below the price. As discussed in a recent article, the impossibility of traversing the support of the $ 8,000 toward the low, could be an indication that the next bullish momentum would occur in the following hours. Technical analysis of Bitcoin from the 4 hours chart The RSI in this same temporality supports the feeling current. Remains bullish, thanks to the fact that it is located above the level 50. Chart BTCUSD temporality of 4 hours Since the chart of 1 hour, we can observe more clearly the break and pullback towards the zone ravine close to $ 8.450. Moving averages EMA and 8 SMA 18 in this temporality is held to cross to the upside, and functioned as a mobile media in the midst of the recent increase in the price of Bitcoin. The SMA 200 is located below the price, supporting the structure bullish. Analysis of Bitcoin vs us Dollar on the chart with candles 1 hour. All our publications are of an informative nature and in no case should be followed as investment advice. The following two tabs change content below. Creative editor and trader of cryptocurrencies, currencies, fiat, and commodities.

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About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

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