No resistance to the $ 6,000 Si Bitcoin Bulls, is there another pump coming?

After yesterday's epic two-hour Bitcoin wave, markets have kept these levels today as new support and resistance zones are formed. A number of crypto-analysts and industrial observers claim that the BTC will not stop there and has very little resistance all the way up to $ 6,000.

Bitcoin higher on record volumes

Rumors about a single buyer causing the digital tsunami in cryptographic markets are spreading today . Reuters reported that the Bitcoin pump was likely triggered by a $ 100 million order. According to Oliver von Landsberg-Sadie, CEO of Crypto-based BCB Group, this was spread across US-based exchanges Coinbase and Kraken and Luxembourg's Bitstamp. He added;

"There has been a single order that has been algorithmically ruled across these three venues, at around 20,000 BTC. If you look at the volumes of each of these three exchanges ̵[ads1]1; there was concert, synchronized, volume volumes of around 7000 BTC for one hour. "

This single event caused a cascade effect that triggered automated purchase orders across Asia that sent Bitcoin barreling toward $ 5,000 in a move that brought nearly 20% to BTC in one day. It has been Bitcoin's best single day gain for almost a year.

Founder and CEO of crypto investment firm BKCM and self proclaimed Bitcoin bull, Brian Kelly, told CNBC;

"The sentiment has shifted here. All the indications we have – whether fundamental, technicals, the quantitative analysis we make – suggest that we have probably started putting in the bottom process."

He added that improved basics And greater institutional interest along with New Kelly explains that the large volume levels, which are currently at a record $ 23 billion, could return Bitcoin to the price level not seen for five months. $ 6,000 is a reasonable move for this rally, adding that he would not call the BTC overvalued until it reached $ 6,500 to $ 6,800.

Other observers like RT's Max Keizer echo the feelings that posted this meme on twitter [19659010] $ 6,000 rings. Do you want to answer? #Bitcoin pic.twitter.com/WR3izUQF2i

– Max Keizer, tweet poet. (@maxkeiser) April 3, 2019

Resistance is Futile

If you look back on the chart in the last six months or so, there is no major resistance between current prices and the level it surrendered in November. Technically, the Relative Strength Index (RSI) on the BTC's weekly chart is interesting, as it attempts to move over a crucial point of 53.85 for the first time since February 2018. The 50th EMA also comes to play on the same chart and a break through this can easily send Bitcoin to $ 6,000.

Analyst Alex Krüger has waded in response to price requests from followers with their predictions that also further upset Bitcoin;

Basic scenario:

– Up. FOMO. 5500 (5000 too close).
– Look down. 4000 workable, see lower fold.
– Then cut into the gap, form a new selection
– Continuous resumption of nonsense afterwards

Analysts still waiting for the 1500 or 1800 will probably not sell many books.

– Alex Krüger (@krugermacro) April 2, 2019

At the moment, the momentum is quite bullish and the crypto community is finally rejoicing after months of doom and gloom. This is really the end of the crypto winter. The only way is for Bitcoin and its brothers in the foreseeable future.

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