Bitcoin Breaks Above 13,000

Βitcoin (BTCUSD) continues north for one more day adding 3.78 percent at 13,011. Bitcoin capitalization stands above 231 billion while the market capitalization of the top 100 cryptocurrencies also decreased to 355 billion, todays volume is at 26B. Bitcoin (BTC) represents over 57 percent of cryptos value so it is clearly in control of crypto universe at the moment. The recent huge rally that drove prices up to 13,868 attracted the investors attention possibly by the news around Facebook’s Libra new cryptocurrency.

The picture is clearly bullish for the largest cryptocurrency in capitalization as it trades above all the major hourly moving averages. Bitcoin traders are very nervous as the volatility increases immediate support for bitcoin stands at 11,481 the 20 day moving average while more bids will emerge at 9,624 the 50 day moving average. On the upside strong resistance now stands at 13,138 the daily high, while I expect extra pressure from sellers at 13,381 the high from June 27th. Ethereum also mirrors the POSITIVE move from BTC and trades 0.43 percent higher at 308.91.Don’t miss a beat! Follow us on Twitter.