A well-known analyst and Twitter-frequenter Trading Room expressed the opinion that in the near future the price of the first cryptocurrency could reach an area of $ 6,700- 7,200.
$ BTC #Bitcoin Macro View
Weekly Timeframe into play. Bulls need to break 100 Week MA
May take days to play out. Failure to breach will get you in and out with Weekly 7EMA & 20 MA
If broken on upside, 6700-7200 Zone ( #Bitstamp ) pic.twitter.com/ZmADHVAhBa
– Trading Room (@tradingroomapp) 7 May 2019 p.
However, before provoking irritation among skeptics, the price of Bitcoin should break through the 100-week moving average (MA), passing above $ 6000 .
An MA 100 analyst considers the “strongest” resistance level. If the bulls fail to push the price for this line, then the bitcoin, the analyst is sure, will “slowly and confidently” drop to 7 EMA and 20 MA.
Another trader – @filbfilb – is sure that the closest price target will be the range of $ 6450-6750. After that, it is possible to reach the mark of $ 7,500.
$ 6450- $ 6750 Is my target for third leg up here on $ BTC
It is not clear what she’s going to do; if it doesn't then something like $ 7.5k is possible.
Full TA to follow. pic.twitter.com/aPWo6f3c9m
– fil₿fil₿ (@filbfilb) 9 May 2019 р.
CoinDesk Markets analysts found that the ratio of long and short positions on Bitfinex reached record lows:
#BTC 's long / short ratio on @bitfinex has a record low of 0.5640 today. pic.twitter.com/Xp9NbX1pzK
– CoinDesk Markets (@CoinDeskMarkets) Grass 9, 2019 p.
Also, according to them, during April-May, the total volume of Bitcoin trading is much higher than in previous months.
Recall that the hacking of a major Bitcoin exchange Binance had very little effect on the prices of Bitcoin and other popular cryptocurrencies.
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