In the first quarter of 2019, Bitcoin growth was 10.91%. According to the Bitstamp exchange, the cryptocurrency has traveled from $ 3,693 to $ 4,096. This was the best indicator since the close of the fourth quarter of 2017, according to analyst at CoinDesk Markets Omkar Godboul.
CoinDesk Markets Information
Despite the fact that, according to Godboul, the power of bears in a global context is really running out, a bitcoin break above $ 4,236 remains a big question.
"Price probably mimics a picture that took place during the ten months before the bullish breakthrough in October 2015."
As can be seen on the graph on the left, last week BTC managed to form a bullish takeover figure, which adds confidence to buyers. This is confirmed by the ascending 5-week and 10-week MA.
If you look at the daily chart, then on March 25, the BTC set a higher minimum along the 30-day MA and on Friday the candle closed above $ 4,055. This also speaks in favor of buyers, as is the Doji candle with a long tail, which appeared on February 27th.
In the near future, Bitcoin can test a maximum on February 24 at $ 4,190, but if the first cryptocurrency fails to consolidate above $ 4,130 (the top point of the Doji candlestick), then a 30-day MA ($ 3,938) is possible.
Recall that Litecoin grew by 100% in the first quarter of 2019, however, a slight depletion of buyers was already noticeable.
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