Bitcoin's price rose above $6,500 Thursday, offering some respite for the badly battered bulls.
The world's largest cryptocurrency by market capitalization had fallen to $6,138 Wednesday at 16:00 UTC - its lowest level in 26 days, according to Bitfinex data.
Bitcoin's price was last seen at $6,500, up 5 percent from its most recent low.
Supporting the view is that the broader market has seen an uptick as well, best depicted by the total crypto market capitalization, up $10 billion on the day where its value currently stands at $235 billion.
Names like ethereum, EOS and bitcoin cash have each appreciated by at least 3% percent over the last 24-hours.
Where to for bitcoin? Right now, there are hints if no conclusions.
Further, the exponential moving averages have crossed, sending a mixed signal that would otherwise see prices fall and are requiring backing from other indicators, which currently show bullish.
Daily Tweezer bottoms marks a small trend change, backed by growing volume.
The daily MACD for bitcoin is finally ticking up for the first time in 10 days signaling positive price action from the bulls.
RSI could present issues facing a previously historical resistance line at 46.92 points.
Bulls Get Relief as Bitcoin Price Beats $6.5K Resistance
Published on Aug 10, 2018
by Coindesk | Published on Coinage
Mentioned in this article
Thailand Greenlights Seven Crypto Operators to Service Clients
Seven cryptocurrency businesses were approved by Thai regulators, Aug. 16, to legally conduct digital asset operations as part of the country's shift toward optimizing the local blockchain, ICO and cryptocurrency ecosystem.
StellarX Co-Founder Details Why ICOs Shouldn't Be Held on Ethereum in New Research Paper
A StellarX co-founder has released a new research project that describes why ICOs shouldn't be held on the Ethereum network.
Coinbase Wins Patent for Secure Bitcoin Payments System
A newly published Coinbase patent seeks to protect a way of making bitcoin purchases more secure for customers.
Unstoppable Scams? Ethereum's Gambling Problem Is Only Getting Worse
Already mounting are warning cries from technologists who aren't exactly known for their risk reticence, a group that includes gambling dapp developers themselves.