At the beginning of the week, we had a price increase of 405 at Bitcoin, from 055 to 451. 75 USD to 494. 55 EUR (551. 57 USD). Since 31 May, the price has been quite stable around the EUR 480 (USD 553. 35).
Summary: At the beginning of the week there was a massive price rise to 494. 55 EUR (551. 57 USD).
- Since the middle of the week strong resistance at 483 EUR (540 USD).
- Course currently is at 482. 50 EUR (538. 13 USD).
Currently, 483 EUR (540 USD) seem to form an almost impenetrable resistance. With a lot of imagination you could recognize an extremely flat triangle pattern, but I would not lean out of the window here; However, it is quite clear that the support has increased from 31 May to the second June and is based on the 100EMA (blue).Right now, we have a calm before the storm: The MACD (second panel from above) is at zero. While currently the MACD line (blue) is above the signal - which would be a bullish crossover - but we are talking about the smallest nuances here.
The RSI (third panel from the top) is currently bullish or bearish at 50 - and again a sign for nothing.The Accumulation / Distribution Chart is currently falling. This can either speak for increased use (more pronounced distribution) of bitcoin or for a new sales behavior - the latter would of course be negative.
Now we have to observe what the next course movements are. The Resistance at 483 EUR (540 USD) and the support at the 100EMA are two important signal sizes.
Volume continues to rise after price increase
A very positive thing: Bitcoin's trading volume remains high, even slightly rising. This would confirm the theory of natural distribution by actively using Bitcoin. Nevertheless, it remains to be seen how things are going on now.
Disclaimer: The price estimates presented on this page do not constitute a recommendation to buy or sell. They are merely an estimate of the analyst.
Image Base of data from cex. Io