On Sunday, November 19, Bitcoin confidently broke the $ 8000 barrier. At the moment, the cost of one bitcoin is about $ 8033, and the total market capitalization has reached $ 134 billion. Recall that on some exchanges the Bitcoin rate has already reached the mark of $ 8000, however, this time it happened with a weighted average rate.
Analysts believe that $ 8000 is an important psychological mark and the level of resistance that has been passed, so now you can expect further growth. These assumptions are confirmed by technical analysis. On the weekly timeframe you can clearly see the figure of 'Bullish absorption', when the candle completely overlaps the previous one in the opposite direction. As a rule, this is a strong signal for the continuation of the trend.
The daily timeframe also shows that the price continues to move in the upward price channel. $ 8,300 - this is the next level of resistance, the price may slow down, but the price channel will be broken.
It is assumed that by the end of January, Bitcoin's price could reach $ 10,000, given the start of trading in Bitcoin futures on the CME. At this time, strong volatility is expected, as many new players will enter the market. Well, a great gift for the New Year.
🤗 source: cryptojournal.ru 🤗