Analytics / Forex and Crypto News
It looks like the bulls are starting to activate after Bitcoin has overcome the $8,000 mark. On Tuesday, the price of Bitcoin peaked at $8,900 on Bitstamp. Today, we are seeing a decline in the price of Bitcoin. At the time of publication, the price of Bitcoin is $8,656.
It appears that the $ 8000 level provides enough resistance that the bulls are not yet ready to overcome. And most likely in the coming days, we will see Bitcoin trading in the range of $8800- $ 8100. And if you look at trading volumes, we can conclude that to change trading volumes, Bitcoin must either rise above $9,100 or fall below $8,200.
Yesterday's close was positive. If the weekly close is positive, we will see further growth with a breakdown probability of $9,100.
As long as the resistance level of $8,800 continues to hold back the bulls, market sentiment remains optimistic.
On the 4-hour chart, the RSI is close to the overbought zone at 70. However, in bull markets, the index reaches 90, which is considered overbought.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov