BTCUSD (1D): Significant price jump. Why? And the consequences.

Bitcoin comes to life and makes a significant price jump. Other crypto currencies also do the same. For the first time in months, a Bitcoin is worth more than 5000 dollars again.

There is movement in the market. The Bitcoin rises above the 5000 dollar mark for the first time in four months. The value increases within one hour by more than 20 percent compared to the previous day. According to a specialist, the price increase was triggered by a single buyer who placed an 100 million order on Kraken, Coinbase and Bitstamp. There was probably only one order to buy about 20,000 Bitcoins!

What does this mean for the further development of the market?

1. Some really potent buyers believe that we have seen the bottom. A good news. 2. We have broken through all important shorter-term resistance lines with the price jump. So. If we close above 5000 by the end of the week, a further up is possible. Be watchfull, the situation is still quite fragile. Those who haven't bought at the moment could buy in case of a correction (4700).

Targets for further up: 5400 and 6000.

Let's see what happens. Happy trading. :-)

Kommentar:

everything possible if we close (d) above 5100 (psychological barrier).

Kommentar:

longtime resistance broke!

Kommentar:

we closed above resistance. signal for more up.

Kommentar:

look at the 3d-chart.

Kommentar:

resistance is no 1. support ( ~5000)

Kommentar:

rising triagle. more up further possible.