Tuesday has shown optimism in the cryptocurrency market. After an unsuccessful attempt of Bitcoin consolidation below the support level of $3566, yet began a confident reversal. At the moment, “digital gold” is traded at $3,599.95 with a change of + 0.99%. However, the market capitalization has shown a maximum at the level of $120 billion. This, at the same time, shows the possibility of short-term growth in the frame of speculative trading.
Other popular cryptocurrencies also have stayed in the “zone of optimism”. Ethereum remains at the level of $118.41 with a change of 1.30%. There is a clear reluctance to “leave” below the support level at $116.93. EOS was the growth leader of Tuesday; it trades at $2.44 with a change of almost 4%.
Coinbase is going to support SWIFT
Tuesday’s news background has shown no significant effect on the market. We have noticed a purely market “force distribution” among buyers and sellers. But it is still worth paying attention to the fact that the Coinbase cryptocurrency exchange is going to support SWIFT international monetary transactions. At the same time, representatives of the exchange stated that this opportunity would attract investors from Europe and Asia. The market host is also planning on expanding the range of activity in the over-the-counter (OTC) trading operations segment as well as in the crypto assets space.
BTCUSD (H4): buying signals – target $3740
The technical image supports bitcoin growth. After an unsuccessful attempt to overcome the support level at $3,566 yet buyers took the lead. If a confident exit from the framework of the downward channel will last during this week, a resistance point at $3,740 is likely to be established.
The current situation in the cryptocurrency market supports the growth of Bitcoin. The following positive news will strengthen “digital gold.”