We see that between May 09th and May 17th the price was in a slight upward channel. This was finally breached upwards. It is good that the MACD is still positive. But beware, the MACD line is still above the signal, but a bearish crossing is imminent. However, the RSI is bullish with 65. Overall, the 240min chart is cautiously optimistic.
Let’s take a closer look at the 1D chart
This shows the upward channel that was mentioned last week. We see that the price has been in this upward channel since March. From time to time the support described by the EMA31 was tested, but it could always hold. According to this Upward Channel the price can fall now if necessary; the resistance of the channel has been tested.
The MACD is positive, additionally the MACD line is above the signal. The RSI is currently at 62 and is therefore bullish as well.
The long-term forecast is bullish according to price, trend and MACD. It will therefore have to be shown more precisely how the price on the EMA24 on the 60min chart behaves. It is also important to see whether the resistance described by the Upward Channel continues to hold.
Bitcoin-Börse has to take responsibility
Disclaimer: The price estimates presented on this page do not constitute recommendations to buy or sell. They are merely an assessment of the analyst.
Dr. Philipp GieseDr. Philipp Giese works as Chief Analyst for BTC-ECHO and specializes in chart analysis and technology. The doctor of physics has many years of professional experience as a technological consultant at his disposal. In addition, he is the central contact person in the BTC-ECHO Discord Channel and, as a speaker and interviewer, maintains an exchange with startups, developers and visionaries.
As reported by ZDNet Korea, the law firm Aone filed a lawsuit against Bitcoin Exchange Cashierest at the Seoul Regional Court on Friday, October 5, 2018. Among other things, the operating company is accused of not complying with Korean law when issuing its own token and calculating transaction fees.