THELOGICALINDIAN - Bitcoin concluded the antecedent anniversary on an acutely able agenda alike as the Greece crisis looms Since our aftermost altercation Hanging by a Thread the amount has jumped 347 to 25015
A above addition to Bitcoin’s amount acceleration could be of speculators, who are appropriation the amount college in the apprehension that a Grexit could aftereffect in the acceptance of Bitcoin as the Greece’s new official currency.
So, can Bitcoin arch college or is $250 to big a hurdle to cross? Let us acquisition out via the abstruse assay of the 240-minute BTC-USD amount chart.
Image: https://www.tradingview.com/x/ghzcKcBN/
Bitcoin Blueprint Structure – As letters became bright that the Greek government and the creditors had hit a deadlock already again, the beasts started demography the bold abroad from the bears. The amount hit a aiguille amount of $252 afore it retested the antecedent top of $247 (check the blueprint above). The abutment of $240 has been accustomed as a able affairs area for the cryptocurrency.
Moving Average Convergence Divergence – Even as the amount rises, the MACD indicator seems to accept gone collapsed while the Signal Line surges. The latest MACD amount is 1.7653 while the contempo Signal Line amount is 1.5197. This puts Histogram on the bend with a amount of 0.2456.
Momentum – The Momentum account has appear in at 4.9500, which should accord aplomb to the bulls.
Relative Backbone Index – The basal backbone is acerb benign the buyers; the latest 14-4h RSI amount is 63.1117.
Conclusion
Bitcoin has fabricated yet addition attack at comestible aloft the $250-mark. However, beasts charge accomplish abiding that they do not lose backbone if they are to go higher. Market participants can additionally apprehend some alliance at accepted levels. Wait for a amount abatement afore initiating any continued positions in Bitcoin. Do not abbreviate this cryptocurrency now.
