Bitcoin

The first cryptocurrency withstood the pressure of sellers during yesterday’s session and is trading in a narrow range of $ 5187- $ 5287 – above the April 4 low, which speaks in favor of the growth scenario, analyst at CoinDesk Markets Sebastian Sinclar said.

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On the hourly chart, customers have been able to stay above the support level of $ 5,200 within 24 hours. Thus, the first cryptocurrency can continue to grow in the ascending triangle, the goal of which is a mark of $ 5885. To confirm this movement, Bitcoin needs to overcome $ 5350.

CoinDesk Markets Information

Note that on the hourly timeframe, the RSI indicator indicates a bullish divergence, which also indicates a possible increase.

On the daily chart, the price is held above the 100-day and 200-day MA, which are starting to approach each other. In the case of their intersection, it will be possible to talk about the likelihood of strong growth.

 

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Zorain Zubair
Zorain is co-founder of TechLapse. Based in Pakistan, Zorain is currently studying Business Management and aims to achieve the title of Chartered Accountant. Zorain loves writing about various technology news. He can be reached at: [email protected]

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