
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Brian Kelly, BKCM LLC founder, CNBC analyst: “You’re starting to see a fair amount of institutional interest in this space. By institutional I mean even high net worth individuals, family offices, are starting to take a serious interest. There are a couple of major brokerage firms that are rolling out some custody solutions. So there’s quite a bit going on under the surface that you know just kind of mechanically could have the same impact as an ETF.”
This week was quite bullish for the crypto market. On Tuesday, Bitcoin rose above the 200-day SMA and managed to stick above the $4,830 level. The bullish momentum continued the next day as the BTC surged higher and tested the $5,300 level. The digital currency corrected on Thursday towards the $4,830 level. However, on Friday it has been pushed back towards the $5,300 level. If bulls continue to move Bitcoin higher, it will retest the $5,300 level. The next resistance is placed at $5,636. On the other hand, if bears take over the market, the oldest crypto will fall towards the support at $4,830. The next support is placed at $4,255. If we look at indicators, Parabolic SAR shows the upward movement for the pair, ADX demonstrates that bulls are too strong, and RSI is placed in the overbought zone.
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Current prices (last update 18:05 MT time)
Bitcoin $5,066
DASH $133.94
Ethereum $165.62
Litecoin: $88.53
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
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