Bitcoin price has continued its spate of volatility so far this week. After hitting highs of $8335 it has since been trying to establish wether it can conquer $8k and establish it as resistance. As we reach the middle of the week ahead of the East coast open, we take a look at the price action and what lies ahead.
Bitcoin Price: Daily Chart
Bitcoin price 00 has put in two solid green candles so far this week accompanied with strong trading volume which has carried the number one crypto asset across the $8k handle and maintained the 2019 parabola.
The MAC D continues to print higher highs on its histogram illustrating that the move is still carrying momentum and may have the strength to continue higher, despite in all probability being towards the end of the parabolic phase.
As we know form December 2017, the final phase can carry the largest move in the shortest amount of time, both to the upside and to the downside. So the lower timeframes are now key to pay attention to when understanding what happens next.
BTC 4-Hour Chart