Bitcoin: $5,200 is supposed to be broken soon

Bitcoin: $5,200 is supposed to be broken soon

The end of Tuesday game some hope to Bitcoin holders, as its rate increased by around $200 just in few hours. Currently, the asset is trying to fix at the $5,200 mark. Last night, buyers managed to increase the volume and nightly recovery was completed on the approach to the level of 100% Fibonacci at $5,218.

Based on the 1-hour chart, one can see that the bullish trend line which started on April, 1 was not broken and we are still dominated by buyers.
During the day, Bitcoin is in the upward phase of the movement, which is expected to be completed in the zone of dynamic resistance $5,150-$5,200. So, traders can consider buying in the direction of this zone, and then taking profits and sales.

Published at Wed, 17 Apr 2019 04:44:10 +0000

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