The weekend was extremely bullish for bitcoin prices, which jumped to a new high of 2019. These revenues appeared Monday morning in Asian trading, and analysts now consider graphs predicting the next step for BTC.
Bitcoin price keeps most of its income that is received over the weekend and is approaching gradually to $9300. Yesterday’s growth of 8% from $8600 to $9200 raised the digital asset to new highs, which was not since the beginning of may 2018.
In the past 24 hours, BTC echoed $??9300 twice before a minor retreat to $8830. He currently returned to $9293 and, it seems, again check the resistance.
As always, traders and analysts study charts looking for the next level of support and resistance. It seems that the previous high from may last year and crucial Fibonacci level will take into account as the next big level of resistance that must be overcome before bitcoin price could reach five digits. Trader Josh Rager analyzed graphs.
The pair BTC/USD strong weekly close. Bitcoin is very bullish and expected subsequent testing major resistance between $9500 and $9600, a Fibonacci retracement of 0.382 (this is a typical area of “profit” is $9532). But the last time everyone was expecting a big pullback to $6000, which it broke above $7000.
Max Keiser also said, while maintaining its ambitious price target, there are almost no bitcoins for sale and $28000.
Big profits from day traders is likely to send the price of BTC back up to the maximum of $8000. However, as noted above, many also expect the mass correction to $6000 which has not yet taken place.
Analyst Big Chonis said:
Another step up, bitcoin hits right at the 38.2% Fibonacci resistance that makes it the next target for the bulls is closing, but it also creates a support of 23.6 % Fibonacci, which is much more important for General continued…
The level of Fibonacci 23.6% for the big picture is currently just below $7000, therefore, the correction back to this is a huge step. At the moment the mood is dynamic, despite the news last week from Binance, which will block trading for customers from USA for regulatory reasons.
A new high may be unavoidable, often because of the expected “red Monday” after a strong weekend did not take place. Most of scriptaction today remain green, and the total market capitalization of $288 billion, which is also close to the maximum this year.