Bitcoin is back on track after the recent consolidation. After resuming the $ 8,000 mark on Wednesday night, he will continue his upward movement on Thursday with modest gains. Some experts are already seeing evidence of a new rally.
For about eight days, Bitcoin was caught in a range of $ 7,500 to $ 8,100. Above all, the $ 8,000 round bar proved to be a difficult problem: several short jumps over this resistance did not prove their durability, hopes for future gains remained at the start.
Late Wednesday afternoon, then hatching: with a vigorous movement, the price jumped to just under $ 8,200. Even though some of the profits went down again, it still remains well above the 8,100 mark on Thursday.
Crypto analyst sees the opportunity to buy
Rob Sluymer, Technical Analyst at Fundstrat Global Advisors, now sees good opportunities to further increase prices and advises buying. The reason: judging by the Relative Strength Index (RSI), the impulse is now starting to recover, quotes the Bloomberg from a recent study.
"For most cryptocurrencies, another outbreak seems to be emerging," said the analyst. "We expect Bitcoins to start another recovery against the next resistance, between $ 8,800 and $ 9,000 from their current level."
Next goal: $ 10,000
The SHAREHOLDER also sees an opportunity for improvement in Bitcoin. Reaching the top of the 52 weeks at $ 9,008, he has already proved at the end of May that the end of the $ 8,000 flagpole was not yet reached. In the medium term, five-digit courses are again possible.
Notice of conflict of interest:
Börsenmedien AG Chairman and Chief Executive Officer, Bernd Förtsch, has received direct and indirect positions on the related financial instruments or derivatives mentioned in the publication, which benefit from the publication of any resulting price developments: Bitcoin .
The author Nikolas Kessler holds direct positions on the following financial instruments mentioned in the publication or related derivatives, which benefit from the publication of any resulting price developments: Bitcoin.