BITCOIN CLOSES ON FIVE FIGURES
Over the weekend, BTC kept in its accounts over $ 9,000, and a few hours ago it raised to $ 9,600. According to Tradingview.com, this move is marked with the highest price in three months.
Chart - Tradingview.com
During the day, a golden cross formed, indicating a change in the long-term trend. The 50-day moving average is now above the 200-day moving average. The last time this happened in 2019. April is followed by 200 percent.
Such a rally today can reduce the price of bitcoin to $ 28,000, halving the time, which now is only three months.
Analyst and trader Josh Rager noticed another technical indicator, which also has a long flash for the first time in almost a year. The trend of Blackroots Alpha turned green again, Rager is one of the founders of cryptocurrencies.
“The last two times “long” signaled:
– Sept ’16 prior to the Bitcoin ATH
– March 26, days before the $1000 candle and run to $13ks”
- Josh Rager posted in his twitter account.
When he was asked about Open Interest on BitMEX Rager added:
“I’m not too worried about it, I think we will see pullback, that’s a given so it just depends on leverage, smart trading such as 2x to 3x won’t get anyone liquidated but many of these people are shooting for the moon,”
OI has now hit $1 billion on BitMEX which usually results in a correction. Traders appear to be starting to exercise caution now and taking some profit off the table.
ELSEWHERE ON CRYPTO MARKETS
Total market capitalization currently stands at just over $ 260 billion, the highest figure in four months. Bitcoin dominance fell slightly to 66.5%, which is good news for altcoins.
Ethereum had a great weekend: up to $ 190 in the last 24 hours and 5% profit. Since ETH is so far from record highs, it is currently more attractive and likely to increase in the coming months.
XRP Ripple also showed a rare rate of up to $ 0.25, while EOS and Ethereum Classic rose 5% per day. Tezos is currently one of the most successful performers with a 12% profit margin of up to $ 1.90.