Bitcoin price increased for the second day in a row on Thursday, as it increased by 0.8 % at the time of writing this report to 97,447 dollars. The bullish trend is supported by the changing tone in the tariff war that incites the United States and China, which has strengthened confidence in the financial markets.
US President Donald Trump said on Wednesday that he is expected to visit his Chinese counterpart, Xi Jinping, the United States, adding that the commercial deal between the two countries is a possibility. The statement raised the possibility of a solution to the collective state, which has slowed down in the absorption of highly dangerous assets such as cryptocurrencies.
Elsewhere, Hong Kong revealed on Wednesday a new road map directed towards developing the city as a global coercive currency center. The city is already focusing as a financial center, and the new road map, “Aspire” (ASPIRE “(access, guarantee, products, infrastructure, and relationships) will focus on improving Blockchain technology, organizational improvement and market access.
The RSI is 48 -year -old Bitcoin, indicating neutral conditions to the seed. Also, the trading volume decreased 24 hours in the currency by 25 % at the time of the press, adding credibility to the weakness of the upper side. The decrease in trading volume during the bullish direction generally indicates the frequency of investors in buying an origin at higher prices. The continuation of the same trend can be heavily over the BTC price.
Bitcoin prediction
Bitcoin prices are preferred at $ 96,960 and work above this level, as the upward trend prevails. This momentum is likely to fulfill the initial resistance at $ 97,780. However, the expanded control by buyers will violate this barrier and can test the second resistance at 98,580 dollars.
On the contrary, the path will turn to the downside if the price decreases to less than 96,960 dollars. In this case, the first support is likely to be 96,320 dollars. The bullish direction would be invalid if the price is less than this level. Meanwhile, the resulting momentum can extend the decline and the second support test at $ 95,600.
