The weekend has been slightly blissful for the cryptocurrency market, especially Bitcoin as it continues to charge up against the US Dollar on the upside trend. Bitcoin has begun gaining strong traction around the five figures price realm with a continuous ride toward $11,000.
After breaking the $10k psychological resistance, Bitcoin saw its forth green candle.
At the time of writing, a unit of BTC is worth $10,803 with 2.8% added value in the last 24 hours. Bitcoin’s dominance, as well keeps increasing as the aggregated crypto market moves upward.
Over the past 7 days, Bitcoin has incurred more strength to take over the bear dragging its price into mire, thus breaking one resistance after the other.
After analyzing the present trend of Bitcoin in the last few days the when the crypto asset returned on the upside trend, derivative trader Tone Vays claimed that BTC has just exceeded the “daily resistance of SetUp [sic] Trend & Moving Average.”
On YouTube, during a live stream video centered on Bitcoin price analysis, Vays made the assertion, claiming that a reversal made by Bitcoin earlier, according to the 12 hours chart, failed to last for a significant period of time, and it was afterward succeeded by an upward trend.
— Tone Vays [Bali – Financial Summit] (@ToneVays) August 3, 2019
The performance of Bitcoin on the daily chart, as the week closes, surprised the analyst. Trader Tone Vays said the weekly chart has not been bullish since the last 21 days but rather neutral.
However, he added that since Bitcoin has been able to break Setup Trend & 50 Moving Average – $10,700, he’s bullish about the Bitcoin’s trend for the next 5 days.