Bitcoin Hits Resistance After Corona Induced Wild Price Swings

Home » Bitcoin Hits Resistance After Corona Induced Wild Price Swings

The recent surge in Bitcoin risks running out of steam after bouncing at levels watched by analysts who use price charts to predict future movements.

The world's largest cryptocurrency tested $ 9,500 for the third day in a row on Friday before falling back. Further gains may not be possible with the Relative Strength Index – which shows momentum by measuring the speed and change in price movements – standing at 72. Anything above 70 indicates that the coin is overbought, the chartist said.

The RSI was the last time this high, Bitcoin dropped from $ 10,500 to $ 3,900 between February and March because coronavirus weighed on most asset classes. Bitcoin rebounded 36% in April. Tokens dropped 1.6% to $ 8,688 at 12:38 a.m. in New York.

Investors have been hoping for another rise to anticipate what is called Bitcoin split in two months. Farewell, when coins issued as gifts to computers that support the Bitcoin network are reduced, they occur every four years, and the previous half coincides with demonstrations. However, many analysts say that half, as it is already known, has been appreciated.

source : bloomberg.com

ATM, Hashdice, Blackjack, Roulette and many other games are here based on provable fairness of the blockchain technology. Plus, not only having fun, you can be a banker. Join BC.Game now and Boost Cryptocurrencies here!
Stake
Modern Bitcoin Casino & Sports betting platform. Enhanced privacy. Instant deposits & withdrawals. Provably fair slots & games. 130+ crypto currencies
WINDICE is the best dice game of cryptocurrency
Roobet, crypto's fastest growing casino. Hop on in, chat to others and play exciting games - Come and join the fun!
Rollbit
Innovative crypto gambling & trading platform. Win and trade Bitcoin and Ethereum. Provably fair games. 1000+ slots and live games. Instant withdrawals.
Bitsler offers casino games like dice and roulette with bitcoin, ethereum, ripple and 17 other cryptocurrencies. Win part of our $1000000+ yearly gambling
Best crypto dice game on the web: instant BTC deposits & withdrawals, a bunch of bonuses, highest faucets, live support, lossback available for HR.
Bitcoin dice game established 2013. Provably fair. Lowest house edge. Instant deposits & withdrawals. Enhanced privacy. Register instantly & gamble Bitcoin

Join Bitcasino Today ☆ Play with 24/7 LIVE Dealers, Slots, Dice and Table Games ☆ Register Anonymously.

CryptoGames is a Bitcoin gambling site offering Dice, Blackjack, Roulette, Lottery, Poker, Plinko and Slot game to play also with Ethereum, Dogecoin & Litecoin.