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The Bitcoin rate has risen the week, crossed the 3,000 Euro barrier and is currently at 3,206.75 EUR (3,790.49 USD).

Summary of the cryptosoft report

The Bitcoin price has risen over the week. Shortly before crossing the 3,000 EUR mark there was a short spike on Coinbase up to 5,002.90 EUR (5,913.60 USD). Short-term resistance is EUR 3,246.98 (USD 3,838.44), an important cryptosoft support for the moving average over the last 24 hours is EUR 3,084.39 (USD 3,645.86) like this:

Despite the weather one feels reminded of the beginning of June: After the Alltime High last week not only a new one was reached, but a new milestone was reached with the exceeding of a market value of 3.000 Euro (about 3.546 US Dollar). In a flash, the price even jumped to EUR 5,002.90 (USD 5,913.60), but this was a single order that was somewhat reminiscent of the GDAX fiasco on ETH/USD at the end of June.

Irrespective of this spike, the price was largely able to hold above the moving averages for one or two days and has so far been rising.

The MACD (second panel from above) is positive, corresponding to this further rise, as is the MACD line (blue) above the signal (orange).

The RSI (third panel from above) stands at 73 and is therefore in the overbought territory.

Overall, the signs are bullish. A first important short-term resistance is represented by the current all-time high at 3,246.98 EUR (3,838.44 USD). Important short-term supports are represented by EMA24 and EMA48, the moving averages, over the last 24 and 48 hours, respectively, at 3,084.39 EUR (3,645.86 USD) and 3020.69 EUR (3,570.56 USD) respectively.

The long-term development of the share price

For further guidance on future developments, first look at the 240min chart:

The bullish trend that began last week continued unabated, as the price continued to hold above the moving averages and the support of the bullish trend.

The MACD is positive, as is the MACD line above the signal. The RSI is in overbought territory at 78. In the medium term, the situation is bullish as well. Important supports are described by the moving averages over one or two weeks as well as the upward trend and are at 2,949.16 EUR (3,486.01 USD), 2,790.26 EUR (3,298.18 USD) and 2,697.20 EUR (3,188.18 USD). The most obvious resistance here is also the latest all-time high, but those who like daring forecasts should refer to the 161% Fib Retracement level for developments since the minimum on 17 July, which is EUR 4,268.32 (USD 5,045.30).

Finally, let's look at the 1D chart:

Here, too, everything is pointing north. The price is well above the support of the uptrend since March and the moving averages for one and two months respectively.

The MACD is therefore positive, a signal confirmed by a slightly overbought RSI of 75.

Overall, the forecast is bullish. The most important longer-term support is described by the 23.6% Fib retracement level and is 2,570.96 EUR (3,038.96 USD). As in the shorter time windows, a resistance at the current all-time high is to be seen, if at all, but here too the bullish long-term forecast of the 161.8% Fib retracement level with regard to the development pursued since October last year on the 1D chart should be pointed out: This is 4,935.76 EUR (5,834.24 USD), almost the same as the aforementioned spike.