The bitcoin rate reached $ 5,680, which is a new high in 2019. In the short term, the bulls will move towards the $ 6K mark, but there are several strong resistance levels on the way to it..
Over the past 24 hours, the price of bitcoin (BTC) has increased by 4.44% ($ 230) and at the time of this writing is $ 5680. Today’s rally is supported by a recovery momentum after a 5% decline on April 26, linked to allegations of fraud on the Bitfinex exchange.
The rebound helped to regain lost ground and rise higher 50-week moving average, which is still bearish and usually discouraged growth until leveling.
This Chart Predicts Bitcoin Price to Hit $1,000,000 SOON!! | More Printed Money = Higher BTC Price!
Towards $ 6K.
bulls expect two more strong enough resistance levels in the region of $ 5780 and $ 5880. Therefore, traders should beware of signs of exhaustion in an uptrend near these levels. An unsuccessful assault can not only slow down growth, but also lead to a price rollback. The bullish trend will continue as long as the rate is above $ 5200.
Due to steady growth, Bitcoin has increased its market share to 55.3%, dampening the influence of more volatile altcoins. Per day Ethereum rate (ETH) added 1.13% to $ 163.6. Ripple (XRP) rose 0.18% to trade at $ 0.305. The price of bitcoin cash (BCH) decreased by 1.36% to $ 272.8. Litecoin (LTC) price increased by 0.48% to $ 74.5.
Recall that in April the bitcoin rate increased by 30%.
text: Ivan Malichenko, photo: Shutterstock