BITCOIN Analysis for May 13, 2019


Bitcoin recently was rejected off $7,500 within an impulsive non-volatile bullish trend. The price is currently trading at near $7,000 making a correctional decline in a volatile manner.

The world’s largest cryptocurrency hit a new yearly peak at $7,568.32, thus bringing its year-to-date net rebound up to 140 percent according to San Francisco-based Coinbase exchange. The consistent momentum indicates that bulls are currently in control and expected to push the price higher towards $8,000 in the coming days. Moreover, online investment service TD Ameritrade began offering stimulated bitcoin trading through Nasdaq, raising hopes that a full-fledged bitcoin adoption was underway.

Currently BTC price is trading firmly above $7,000. MACD showing a squeezing bearish histogram signals a bounce off $7,000 that may push the price towards higher with a target towards $8,000 in the coming days. After certain corrections and false breaks below $7,000, the bullish pressure is constant. Besides, being above the dynamic level of 20 EMA reaveals the continuation of the bullish momentum. As the price remains above $7,000 area further upward pressure is expected in the future.

SUPPORT: 6,500, 7,000

RESISTANCE: 7,500, 7,750, 8,000



The material has been provided by InstaForex Company –

Source:: BITCOIN Analysis for May 13, 2019

Won't your trader friends like this?
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply