Bitcoin has gone above $ 7800. Bullrun continues

The price of Bitcoin updates another record after reaching the previous annual maximum. The incidence of major cryptocurrencies on the weekend was not too prolonged, the bulls managed to contain the downward movement of prices, and soon BTC rebounded in the area of 7200 dollars. Tonight the coin flew up, and the growth coincided with a statement Bakkt about testing futures on Bitcoin.

The General situation looks like this:

  • for ten minutes, the Bitcoin rose from 7490 to $ 7744;
  • BTC has set a new annual high of 7861 dollar;
  • trade BTC/USD is still in uptrend.

At the moment Bitcoin is trading at $ 7783. For the past day main cryptocurrency rose by 12.22 percent.

Technical analysis

For the last five days in the trading of Bitcoin has seen many interesting events. The bulls quickly managed to break through the level of $ 7,000 and set a new annual maximum of the asset price. On a scale of 4-hour chart BTC is above the moving average SMA 100, which can be interpreted as a clear signal for long.

Yesterday there has been a marked rollback — Bitcoin fell by almost $ 800, but buyers immediately took the opportunity to open a profitable long position. Cryptocurrency are unable to stay permanently below the level of $ 7,000. We will remind, earlier the American economist Alex Krueger advised to use every pullback as a potential opportunity for purchase of Bitcoin.

Source: TradingView.com

The rise of Bitcoin has increased its market share. The figure exceeded 60 percent.

The next psychological mark will be taking $ 8,000. Subscribers cryptodata 2Биткоина do not doubt the success of the coin.

The readings of technical indicators talking about continued growth. The MACD is back to bullish zone and the RSI left the overbought zone. To discuss the situation and try to predict its future development with like-minded people can be here.

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