BTCUSD (H4): near the important resistance level

Images by PIX1861 and vjkombajn from Pixabay

Good news on the cryptocurrency market

Bitcoin (BTC) is in the “red zone.” The coin stays a little below the important resistance level around $3,740. The history of trading tells us that this level has been tested many times. A notable fact is that the “digital gold” chart has gone beyond the downward trend.

Other coins showed similar trading dynamics. Same as Bitcoin, they strongly strengthened and reached the price values ​​of the end of December. Ripple (XRP) stopped at $0.308580 with a change of + 1.83%. Ethereum (ETH) is trading at around $116 with a change of + 5.34%.

The capitalization of the cryptocurrency market has strengthened at $121 billion, which in turn is a positive signal. We can say that market participants are ready to buy. The likelihood of further growth of popular cryptocurrencies still remains in the spotlight. Therefore, there is a high probability of Bitcoin breaking down the resistance level at around $3,740.

Outlook for 2019

Good forecasts were given by the Fundstrat Global Advisors American research company. According to their expectations, 2019 may be a successful year for the cryptocurrency market. In addition, analysts predict a decline in the US dollar and a rise in emerging market shares. As a result, this should attract major investors to the cryptocurrency market.

Bitcoin holds near resistance at around $3,740. In the case of its breakdown, we can expect a rise to the maximum of the early December at around $ 4,180.

Positive news background contributes to further growth. A breakdown of the $3740 level will trigger a new wave of growth.

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