Cryptocurrency
Bitcoin Explodes 15% to $6,350, Price Decoupling From S&P 500
As reported on NewsBTC, “Since our last market update, the Bitcoin price has continued higher, with the rate of growth exploding so far that the price of the cryptocurrency has gone vertical, briefly tapping $6,375 just minutes ago. “At that price, BTC was up 15% on the day, easily outperforming the American stock market indices of […]
As reported on NewsBTC, “Since our last market update, the Bitcoin price has continued higher, with the rate of growth exploding so far that the price of the cryptocurrency has gone vertical, briefly tapping $6,375 just minutes ago.
“At that price, BTC was up 15% on the day, easily outperforming the American stock market indices of the S&P 500 and the Dow Jones, which have posted slight gains (of 1% to 2%) on the day.
“Although bullish, Bitcoin has yet to make it past $6,410, a key level. As pointed out by cryptocurrency trader Smack, there is a confluence of resistance at that exact level: the top of the four-hour and six-hour Ichimoku Cloud, the exact bottom of the 2019 retracement on BitMEX, and the middle band of the volume profile, meaning that this level is one of BTC’s most important price points…”