The exchange rate of bitcoin steadily moved sales over the mark of 9000$

  • And
  • +A

Wednesday, may 2, trades on bitcoin ended with a growth of 4.74%. The activity of traders and investors was observed in the Asian and American sessions. By the close of the day the price of bitcoin increased to $9279. In the morning buyers rewrote high at $9292.
At the time of writing the exchange Bitfinex bitcoin is worth $9219. A local minimum is fixed at $9161. The buyers held the trend line from the top of TR1 $9337 and now heading for trend line TR2 from a peak of $9767.
On Wednesday, the sellers activity was observed in the area of $9195-9220. The activity of buyers by volumes yesterday and today is higher than from sellers. Really want to customers as early as possible were TR2 ($9335).
Sellers are now idle, but it is believed that they will protect the line TR2 c $9300. If they are stuffing there large amounts (from 400+ BTC), the buyers may be scared and in fear from what will not the trend line will begin to close open long positions.
Margin the sellers are increasing their short positions and expect to earn on the depreciation of bitcoin. Who will be the fatter wallet wins in the battle for the range of $9330-9350.
I believe that stops sellers hidden behind $9380. Buyers now have the opportunity (and rising stochastics on the 1H AU) to raise the price to $9350. It is desirable now to hunt for them until they started hunting for their feet. The sellers may be activated before, because the stochastic on the 4H (see graph) turns down.
_____________
Vladislav Antonov,
Analyst
Alpari