Bitcoin Altcoin Trader Price Analysis

Bitcoin Altcoin Trader Price Analysis

In our Bitcoin Altcoin trader price analysis we can see the bull is back, and he’s firmly in charge.

Bitcoin hit an almost 2-year high this week, reaching as high as ZAR 9,000 in trading. In US dollar markets it Bitcoin almost broke through its key overhead resistance at USD 600 per bitcoin.

We reported in our pricing and market analysis recently that the long term pattern was certainly bullish. While a breakout was not surprising, its speed and ferocity were, somewhat.

Bitcoin was trading at around ZAR 8,000 when was last took a look at the market for our readers. It is interesting to note that consolidating in a triangle pattern came before a large increase. This was then followed quickly by reduced volumes.

The price then increased to around the ZAR 8,700 mark, before retracting to support and charging again to stiff overhead resistance at just under ZAR 9,000.

On US dollar markets the $600 level has proved tough to crack. If the price does eventually, and convincingly, break this resistance, the bull would be expected to charge on to, in Rand terms, at least ZAR 10,000+. Remembering of course that South Africa markets usually trade at a significant premium to US Dollar market.

Needless to say, US$ 600 is a key mark to watch on major US Dollar exchanges. Currently these markets are very volatile, and trading in what is becoming a short term established range of US$ 560 – 580 per Bitcoin.

Bitcoin Altcoin Trader Ethereum Analysis

Besides Bitcoin Altcoin trader news shows Ethereum is also grabbing attention. Ethereum has firmly established itself as the number two player in the blockchain space. It is consistently trading above a billion dollar market cap. It is also the focus of a lot of developer attention. Both are signs of a healthy and growing ecosystem.

Ethereum tokens (ETH) started the trading week strongly. While they are not traded on any Rand markets yet, on US Dollar markets they charged toward strong resistance at $15. The price is currently correcting slightly. And it looks like US$15 will prove to be the key resistance level to watch.

We at iceCUBEDX are always excited to deliver Bitcoin Altcoin trader news to our clients. This is especially true in a bull market like this. with so much profit to be made.

Further, we have some excited announcements in terms of Bitcoin Altcoin trader news, through June and July. So, stay tuned.

 

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Disclaimer Notice:

This article is intended to educate and should in no way be seen as investment advice or an enticement to use the ice3x.com platform. Bitcoin is highly volatile with big profit opportunities but you should also remember that you could lose part or all of your investment whenever you take part in any high risk investment. Bitcoin trading is not a regulated industry in South Africa, which in itself carries additional risks. IF YOU ARE NOT AN ASTUTE BITCOIN TRADER, SEEK INDEPENDENT FINANCIAL ADVICE BEFORE MAKING ANY INVESTMENTS.