Bitcoin’s Results are Strong in Here
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:
- The 50-Day MA of $8,600 the Key support, and
- 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.
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