Price Move! Can be considered as a good follow-through price action.
The buildup of volumes and increase in open interest have signaled the greater probability leading into what may have been a slow move of prices prior to break the $8000 mark today. Cautious play by investors and the gradual entry by institutional Hedge fund / money managers interest is proving to be a good showing for other investors to follow.
This has been backed up by the higher percentage of the SEC approval of #BITCOIN #ETF which have provided the catalyst for the #Crypto space to increase its market cap back above the 290B level after several months of declining prices.
The buildup of volumes and increase in open interest have signaled the greater probability leading into what may have been a slow move of prices prior to break the $8000 mark today. Cautious play by investors and the gradual entry by institutional Hedge fund / money managers interest is proving to be a good showing for other investors to follow.
This has been backed up by the higher percentage of the SEC approval of #BITCOIN #ETF which have provided the catalyst for the #Crypto space to increase its market cap back above the 290B level after several months of declining prices.
Although, it may not be as significant but the gradual move after marking below 6000, and hurdled 7000 it has given other classic investors a breather this 3rd quarter of 2018.
Justifying the tech angle, the basic cup previously marked on our analysis chart have been validated with this follow through which serves to be a confirmation.
Reference info: Relative Price Action on Bitcoin...
Expect session pull back from profit taking activities that can bring down price levels from the break. As market investors are focused on the US / EU trade counter action to be taken up during the week.
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