Bitcoin rate over 800 EUR – To the moon? No, to the stars!

The current upward trend is gaining speed, so the price is currently at 840.58 EUR (877.33 USD).

Again the price rose continuously throughout the week. Since 21 December, this rise has been steeper.

Today, on December 22nd, the price rose again, so that it now stands at 840.58 EUR (877.33 USD).
Wow – only yesterday we were jubilant that the price had risen above 800 dollars, today the price rises significantly above 800 euros. We are experiencing a price rally that last took place at such heights two years ago. With the breakthrough of 800 dollars, one of the great resistances of the price was broken, on which Bitcoin still gritted its teeth in June. Of course, this has given the share price an enormous boost, so that – depending on the exchange – it has already reached historic highs.

As an example, the long-term price development of the Bitcoin code

With the exception of a short spike on 6 November 2013, the Bitcoin code established at the beginning of 2014 was broken through. On other Exchanges it is not yet so clear, but with all modesty one can say that also there this Bitcoin code is currently being shaken.

Bitcoin has long since left the “To the Moooon! moon” behind him and the flight continues. That’s also what the indicators say.

The MACD (second panel from above) is still positive. Just the rush of this morning has pushed the MACD line (blue) clearly over the signal (orange). The MACD is therefore bullish overall.

Of course also the RSI is bullish (When in the last weeks was it actually bearish?). At 94, it is overbought as never before this year. Of course this is a signal for caution, but the price developments over the last few months have taught us that overbuying is not an immediate sign of a price fall.

The Bitcoin code remains positive

So that’s everything very, very positive. Of course we see that we are in a rally and have to see what happens when it is over (then a good moment would have come for Bagholder to bring her Bitcoin code home), but all signs are bullish for now like this:

Looking at different time scales has always been worth it, just to see if the trend is confirmed in the long run. And yes, he thinks so: “On the 240-minute chart, we see last month’s development:

The price has actually always risen. Yes, he tested the EMA100 trend twice, but otherwise it just went up. Here, too, we can see that in the last few days the share price has increased in speed.

The indicators are also positive here, whereby both the very strong discrepancy between MACD line and signal and the astronomical height of the RSI speak for a consolidation soon.