On May 27, the first cryptocurrency in terms of capitalization level, Bitcoin, beat its annual maximum rate. The maximum closing rates for yesterday's tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details session were about $8,850. The line of resistance of the asset (for 1 day) moved up to 10 thousand US dollars.
The rapid growth of Bitcoin and future prospects
At the time of this writing, Bitcoin (BTC) has undergone a slight correction and dropped to 8,720.68, which is an average of +9.05% of the cost over the last 24 hours. The coefficient of dominance of BTC rose above 57%, which indicates the importance of the coin in the market.
In addition, you should pay attention to changes in the market capitalization of the coin. According to analytics, the total market capitalization of Bitcoin is $154.6 million (equivalent to 17,724,762 BTC). The average daily trading volume of the crypto asset was $30.2 million (equivalent to 3,465,074 BTC).
Interesting in the section: Financial geography. Cryptocurrencies in Sweden
It is important to note that the indicator of the RSI over the past two weeks is 73, which indicates that the market is balancing on the verge of overbought. Naturally, this information can be interpreted in two ways: both as a call to buy Bitcoin, and as a signal for a possible price drop (if the figure exceeds 80).
Resistance lines have shifted upward over the 24-hour period. So, the third line has already risen to the mark of 10 thousand dollars, and the bottom line is near 8800 US dollars. In addition, three Bitcoin support lines are located at: 1. 7.193 – the first support line; 2. 7.536 – the second line of support; 3. 8,133 – the third line of support.
Available about the complicated: Bitcoin can grow to $10,000, as evidenced by the top line of resistance. Further growth is possible if the market is not overbought and if the asset rises above $9,000 in the coming days. If they buy too much, the coin may drop to $8,133.
Bitcoin beats annual records, the first cryptocurrency has grown more than $8,800. Recall that Facebook is going to release its own cryptocurrency already in 2020.
Editor: Godfrid Brower