Sunday has generally been quiet on the crypto market. We do not see any major increases within the top 10. The top 10 does generally turn green, although it does not involve large percentages. We do see bitcoin (BTC) consolidating just below the next obstacle.

Bitcoin (BTC) reaches next resistance and consolidates
24 hours ago, the bitcoin bulls cleared the bitcoin rate by pressing the 50-Moving Average (MA) on the 4-hour chart and pushing through to the 100-MA on the same chart. The price could not immediately break through that. Over the past 24 hours, the price has consolidated just below this MA with no major price fluctuations.

The trade volume is also decreasing and so the question remains which way bitcoin will break out. In a breakout up, it is necessary to break through that 100-MA. The centerline of the Bollinger Bands on the daily chart is also at the same price level. So the current price level is a crucial resistance to break. Going down, one should keep an eye on the 50-MA at $ 55,208 as support.

Categories: Bitcoin