The price of bitcoin hit a record high for the last 6 days, but then fell again

The price of bitcoin hit a record high for the last 6 days, but then fell again

The price of bitcoin (BTC) broke its six-day high and exceeded $ 9,000 in the first half of the day on Saturday.

Trading on bitcoin the number one started with level 8.608$, and at about 9 am in Kiev the price jumped to 9.070,64 USD. This is the highest value of bitcoin starting from February 4. At the moment, according coinmarketcap.com the price of bitcoin is 8467 USD.

On Tuesday, the 6th of February the price of bitcoin fell below $ 6000, so that the current is a maximum increase of more than 2,300 U.S. dollars from the value Tuesday.

Meanwhile, other top cryptocurrencies have also shown growth on Saturday morning, but by evening, the dynamics of sleep. Currently, of the top 10 cryptocurrencies, Ripple only shows growth in the last 24 hours the price increased by 12% and is at a level of 1.04 US dollar.

  • The pullback from the level 9.090 $ level 8.750 $ says that at the minimum value recorded January 17 (at a level of about 9.017,41 USD) is strong resistance level (on the chart, this area is marked with a circle)
  • .The downward trend has not changed.

Summary:

Bullish scenario: Closure (UTC) above the trend line confirms the trend momentum is bullish and could lead to an increase to the level of 11.695 USD (January 28). If this resistance level is breached, it will pave the way to the next level at around 12.500 USD (minimum of 30 Dec).

The bearish scenario: the deviation from the trend line, along with a close below 7.540 USD (minimum 2 February) on a 4-hour chart, opens the way to further reduce prices to a level 5.873 $ (from 6 Feb).

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