Bitcoin’s Results are Strong in Here

Bitcoin’s Results are Strong in Here

Bitcoin’s Results are Strong in Here

$BTCUSD

April saw strong results for Bitcoin, participants are set for solid trading in this month.

Currently, Bitcoin is trading at: $9,237.6553,+84.6602, or +0.93%,as of 5:15a BST, the market is open.

The Big Q: What is BTC’s next meaningful move despite the much improvement backdrop in recent weeks as regulatory fears continued to ease?

Technically, there are 2 Key Bitcoin price marks to watch carefully, they are:

  1. The 50-Day MA of $8,600 the Key support, and
  2. The 150-Day MA at $9,700 the Key resistance

Note: Support is the buy mark, Resistance is the sell mark for traders, Bitcoin with the advent of futures and options is a trader’s market.

A significant break above or below these marks may trigger extended moves in Bitcoin’s price.

The recent uptick in demand suggested traders are optimistic that Bitcoin and other large-cap cryptos would build on very strong April’s gainers.

The total market cap of cryptocurrencies rose to about $431-B Wednesday from about $416-B on Tuesday, supporting a move higher other large-cap cryptos.

Ripple XRP rose 2.62% to $0.84793 on the Poloniex exchange, while Ethereum rose 1.85% to $674.26.

Bitcoin Cash rose 11.50% to $1,445.00, while Litecoin rose 2.34% to $149.00.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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