Support resisted: the bitcoin exchange rate rose above $7,000

Support resisted: the bitcoin exchange rate rose above $7,000

Yesterday, analysts and traders said that the rate of the first cryptocurrency will fall to $5,500, but on December 18, bitcoin pushed off from the support of $6,400 and soared to $7,200.

Although many believe that it is too early to draw conclusions, there is a possibility of continued growth. One of these signs is a bullish candle on the chart, which usually means a change in the trend, as well as confirming the presence of discrepancies between the RSI and MACD indicators.

Trader Peter Brandt, who yesterday said that the bitcoin exchange rate will drop to $5,500 by July 2020, now believes that the first cryptocurrency has protected an important level and will continue to grow. However, well-known economist and trader Alex Kruger (Alex Kruger) expressed the opinion that the market is still in a downward phase.

“The $6,400 level was a key support level and the bulls strongly defended this level, but we are still in a bear market. Halving the reward to miners for mining bitcoin will not push the price up, despite the fact that many believe so. I think these people don’t even know what econometrics is,” he said.

Recall that recently the analyst of the cryptocurrency exchange Mikhail Karkhalev said that after halving the reward for miners, the bitcoin exchange rate can grow to $170,000.