Monday, Feb. 19: the has surpassed $11,000 twice since Sunday as bullish sentiment returns to markets and new support begins to form.
Data from Cointelegraph’s price index shows a BTC/USD journey to a high of $11,190.10 Feb. 18, followed by a smaller peak above the significant barrier Monday at $11,001.45.
Optimism is flowing after bitcoin broke through resistance surrounding $10,000 Feb. 16, the threshold subsequently forming a support floor with prices staying above it as of press time.
The move upwards broadly reflects predictions by well-known cryptocurrency price analyst Tone Vays, who in various recent forecasts around $10,000 and a repositioning of support floors.
Now, “clear” support and resistance will make future price action “more predictable” going forward, he says, noting the “bullish” trend in both daily and weekly charts as the week begins.
hit resistance for a swift $800 drop from $11,250 to $10,400… Now that it’s pulling back up what should be expect? should become more predictable once clear Support & Resistance are established. Let’s have a Live Look:
— Tone Vays [#bitcoin] (@ToneVays)
bitcoin has outperformed the majority of the top 50 altcoin assets tracked by in USD terms over the past 24 hours.
Ethereum Classic (ETC) has been a notable exception, gaining 11% on BTC since Sunday amid a trading uptick following a by major proponent Barry Silbert Feb. 12.
Silbert had attributed bitcoin’s latest rise to the effect of its appearance on US talk show Ellen late last week, in which host Ellen DeGeneres what bitcoin is to millions of viewers.
Ethereum (ETH), Ripple (XRP), bitcoin Cash (BCH) and Litecoin (LTC) meanwhile lost around 2% against BTC during the same period.
Published at Mon, 19 Feb 2018 12:35:54 +0000
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