Bitcoin (BTC) suffered a minor dip last night after it wasgoed exposed that hackers had again breached a major cryptocurrency exchange, but the charts still amparo a corrective rally to $7,000.
The cryptocurrency fell from $6,740 to $6,560 after Bithumb the sixth largest cryptocurrency exchange ter the world by trading volume confirmed that the attack had happened inbetween late Tuesday night and early Wednesday morning locorregional time, adding that about $31 million-worth of cryptocurrencies had bot stolen.
The Seoul-based cryptocurrency exchange has now halted all deposit and withdrawal service ter order to ensure security and announced that it would fully compensate customers.
While the hack highlights the security risks that have plagued the cryptocurrency space and has potential to dent investor sentiment, bitcoin is so far refusing to embrace the negative narrative.
At press time, the cryptocurrency is switching mitts at $6,630 on Bitfinex down just 1 procent te the last 24 hours and holding well above the Asian session low of $6,560.
BTC’s resilience has ensured the technical charts are retaining short-term bullish bias, and is trading above the support of the 50-candle moving promedio (Moeder) on the 4-hour chart, presently at $6,545.
The chart shows a rounding bottom a bullish reversal pattern meaning sentiment has little by little shifted from bearish to bullish overheen the last Ten days. The relative strength index (RSI) is also holding above 50.00 (ter bullish territory).
BTC also recently witnessed a bullish Bollinger Ratio breakout, spil discussed yesterday.
So, the short-term outlook remains positive and only a rust below the ascending trendline (dotted yellow line) would weaken the bull case.
Spil seen above, the bullish crossover inbetween the 5-day and 10-day Moeder further indicates a short-term bearish-to-bullish trend switch.