It’s unbelievable how bitcoin price shot to the moon and now we hit an all-time high of $28,000. It’s best to understand market movements.
Bitcoin’s market cap also increased and this might mean a sustainable high price.
The market price is set for a retest of the $24,000 level. Though this speculation is relative to the cross of the MACD cross to the upside.
As the custom is, bitcoin price tends to retest as the year wind up so it’s necessary to take caution with your investments.
At level $28,000 there is a huge price rejection which is accompanied by a MACD downwards cross.
This indicates that caution should be taken when making this decision.
Looking at the technical indicators:
- Major Support Level – $24,000