Today, June 7, the price of the first cryptocurrency pleased investors with a successful retest of $ 8,000.
The graph below shows that after several attempts, the price still managed to consolidate above this important level:
TradingView BTC / USD 30 Minute Chart
Note that the growth occurred against the backdrop of a surge in trading volume, which confirms the strength of the upward movement.
As the Twitter account of Chonis Trading notes, two symmetrical triangles preceded the rapid growth, from which, to the delight of the hodlers, the price each time was chosen in the upward direction:
$ BTC – yeah ha #bitcoin pic.twitter.com/DdVlbzfd2O
– Chonis Trading-⚔️ (@BigChonis) 7 worm 2019 р.
According to CoinDesk Markets analysts, the moving average with a period of 200 on a four-hour timeframe served as a reliable support for the price:
The 200-MA on the 4hr chart came again for #bitcoin .
The frame is ~ $ 8,237, which both support and resistance recently. pic.twitter.com/1V6StXCH2n
– CoinDesk Markets (@CoinDeskMarkets) 7 worm 2019 р.
According to the “old tradition”, the sharp rise in the price of the first cryptocurrency gave impetus to virtually the rest of the market. For example, this is how the first ten of the CoinMarketCap rating now looks like:
As you can see, Litecoin is growing the most. This is probably largely due to the halving reward for the block, which is only two months away.
Earlier, CoinDesk analyst Omkar Godboul paid attention to the high probability of Bitcoin recovery above $ 8,000.
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