Bitcoin Price Hits 15-Month High at $11K

BTC hit the highest number in over a year. We’ve been looking at the most green among almost all of the trading instruments. All technical indicators are showing positive and green conclusions, putting BTC at very strong buy at the moment.

The price surged over $11,000 twice in the last couple of days. On the 22^nd, the rise was shocking and unexpected. The regulations which were released on the 21^st of June barely affected the coin. Though it is most likely due to the new FB Libra that the high happened. We’re closing on a Bitcoin revolution, where the established crypto-king and the newcomer will be fighting it out on the market.

Before then, though, it is essential to understand what the most popular digital coin is doing. The changes began at around 12:15 AM on the 21^st. BTC surged past the watched resistance at $10,000 and began to rise steadily for several hours. Within ten hours, our favorite token kept passing resistance one by one.

At 1:30 PM on the 22^nd, we witnessed the first high of the year at $11,137. The price kept jumping all weekend but managed to stay above $10K to this day. Bitcoin value is currently at $10,717 right now, dropping from $11,183, which occurred at 10:15 PM – the 15 month high.

The chart shows high volatility, as it characterizes the most popular token. The jump is highly evident in  the last two years. The current price is on the same line as in March of 2018. It seems like the investors are forgetting about the burst of the BTC bubble from 2017. The price of the token came crashing down all through 2018 and beginning of 2019. This year began at $3,000 for the crypto-king, but the current events are giving us hope.

Bitcoin Technical Analysis, June 24

Understanding the technical analysis is vital to stay on top of the market. Whether we look at the daily or monthly analyses, all of the technical indicators are pointing at a quite strong buy. See the daily technical analysis below:

• RSI (14) – 77,241 Overbought
• Stoch (9,6) – 66.060 Buy
• StorchRSI (14) – 91.907 Overbought
• MacD (12,26) – 73.200 Buy
• ADX (14) – 68.770 Buy
• Williams %R -– 15.564 Overbought
• CCI (14) – 148,1563 Buy
• ATR (14) – 478.9951 High Volatility
• High/Lows (14) – 1319.0040 Buy
• Ultimate Oscillator – 64.583 Buy
• ROC – 35.126 Buy
• Bull/Bear Power (13) – 2190.7944 Buy
• SUMMARY: Strong Buy

It is time to get the Bitcoin wallet at the moment. BTC is doing well, especially after the 2018 slump creating a pessimistic outlook on the crypto-king. This might be one of the few times when the external circumstances are influencing the token. The new FB Libra is creating pressure on the BTC market, creating an exciting development.

If we trust the historical charts, BTC should keep going steady for a while until blowing up in the autumn. Hopefully, we will see the never before seen numbers in 2019, which will pass on to 2020 and later.