Hello! In this short time, the price of Bitcoin has hit all the levels we previously defined and even surpassed them.
Let’s take a look at the graphs.
In our previous review, we discussed the goal at $5400 which was reached by Bitcoin on April 22, from which point it aimed for $5700. The bulls gave up by April 26, with the price falling to $5055 (a level we also indicated in our April 19 review) As you can see, we might not be able to predict the future, but our goals are 100% precise. Congratulations on your profits!
On the hourly timeframe, after the April 26 collapse, the price is consolidated at the upper limit of the $5350-5550 channel. EMA50 moving averages ($5462) are higher than EMA100 ($5430), with the latter serving as a local support level. MACD is in a positive zone. Growth is constrained by the $5550 level, with the next resistance level at $5650-5700, where the bulls will aim to direct the price.
ЕМА50 ($5417) is above ЕМА100 ($5208), with both of them serving as support levels. The signal to buy is maintained. MACD is in a positive zone. Growth goals are similar to the ones on the hourly chart.
The signal to buy is maintained on the daily chart. EMA50 ($4864) is higher than EMA100 ($4834), with both serving as supports at the bottom. MACD is in a positive zone, but there is a trend towards decline. The price is moving within an ascending channel, remaining between its limits, which don’t exclude the possibility of a drop to $5350. The goals for growth are at the $5700 level (which was almost reached last week), followed by $5800, which will pave the way to $6000 and $6200, serving as a strong signal towards further growth.
The past week is memorable for a scandal with the Bitfinex exchange. On April 26, when their $850 million losses became known, the price of the main cryptocurrency dropped by 5% in an hour. CoinDesk, with reference to the New York District Attorney, wrote about the potential concealment of the Bitfinex exchange’s loss of $850 million using funds from Tether. Prosecutors claim this is the reason for the trouble with payments to users.
According to authorities, the operator used by Bitfinex, iFinex, gave $850 million to the payment company Crypto Capital Corp. The funding gap was bridged using Tether reserves, but this information was not shared with users. The issuer of the stablecoin must have allocated at least $700 million for this goal.
Bitfinex noted that they had not received any warnings from the District Attorney:
Bitfinex Respond to New York Attorney General’s Actions https://t.co/snxHU2yeb5
— Bitfinex (@bitfinex) 26 апреля 2019 г.
You can find other important news from the past week in our traditional digest.
We recommend sending out delayed orders from the $5350 level and lower, down to $5050.Although we haven’t posted any reviews in 10 days, our readers are still getting profits! Join us!