2019 is turning out to be quite a positive year for Bitcoin, is the crypto winter finally over? After hitting a low of $3,300 back in December, Bitcoin has been increasing in value ever since. The momentum and volume has been building little by little the past 5 months and today we hit a new all time high for 2019!
At the time of writing, Bitcoin is trading at $5754 having risen over $100 in the past hour alone and over $355 in the past 24 hours. Get excited because this is a new all time high for 2019! The good news is that we broke through the $5600 resistance level which we tested last week with no luck. At this point, all the eyes are on the charts to see if we can either reach $6000 or at least turn $5600 into support instead.
The two major roadblocks ahead for Bitcoin’s price are undoubtedly the $6000 psychological number and the $6300 level which held as support for over 6 months during the end of the bear market.
Looking at the technical indicators, the RSI is extremely oversold which is only natural for such a…