CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,175.00
  • ethereum
    ETH$1,594.93
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » BTC » Bitcoin Loves Weekends: Following an $800 Price Move, The 2019 High Is Closer Than Ever

    Bitcoin Loves Weekends: Following an $800 Price Move, The 2019 High Is Closer Than Ever

    Author: Yuval Gov

    Last Updated Nov 25, 2019 @ 14:16

    In crypto like in crypto, things happen quick. Following the recent breakout after the 10-day consolidation period, Bitcoin had skyrocket $800 in less than two days.

    In our recent analysis, we had stated that “Stochastic RSI had recently gone through a cross over in the oversold area, which could turn into a bullish move.”

    Another thing to note is the bullish momentum during weekends. Like happened in May, June 2019 also proves that weekends are good times for Bitcoin.

    As of writing this, Bitcoin marked $8800 resistance as the current high. The coin is now very close to its 2019 high around $9100 and in the case that the weekend momentum will continue, we will likely to see it been retested shortly.

    Total Market Cap: $273 Billion

    Bitcoin Market Cap: $154.4 Billion

    BTC Dominance: 56.5%

    Looking at the 1-day & 4-hour charts

    – Support/Resistance:
    Following the bullish move, Bitcoin had broken up all the mentioned key resistance levels and is now facing $8800. Above the last, lies the 2019 year-high area at $9000 – $9100. Success in breaking up, and the way to $9600 and $10,000 will be very close.

    From the bearish side, Bitcoin’s support levels are the resistance turned support areas of $8500, $8400, $8200 – $8250 and $8100 (along with the 4-hour chart’s MA-200 and MA-50).

    – Trading Volume: Yesterday’s rise had produced the highest volume candle of the past week, which shows strength. However, the volume isn’t significant as compared to the highest days of the previous 3-months.

    – Daily chart’s RSI: On our recent analysis, we’d mentioned that there is “a space to go higher.”, by looking on the RSI. The indicator had broken above 56 and now lies in the bullish territory of 62. For the longer term, Stochastic RSI of the weekly chart had gone through a cross over down but hasn’t entered the bearish territory yet.

    – BitFinex open short positions: Along with the rising Bitcoin, the short positions continue to rise: There are now 22.8 K BTC of open short positions, which is the highest level of the past 30 days.

    BTC/USD BitStamp 4-Hour Chart

    btc_jun15_4h-min

    BTC/USD BitStamp 1-Day Chart

    btc_jun15_d-min

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin Bitcoin (BTC) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Yuval Gov
    More posts by this author

    Yuval Gov has over 15 years of trading experience in the stock exchange, graduated from TAU - Economics and Management. Fell in love with the crypto space. Does Crossfit to get away from FOMO. Contact Yuval: LinkedIn

  • bitcoin
    BTC$23,175.00
  • ethereum
    ETH$1,594.93
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    13 Biggest Crypto Scandals and Controversial Stories of 2022

    13 Biggest Crypto Scandals and Controversial Stories of 2022

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!