BITCOIN's Final Barrier: MA100. Are we going to 4500 or 10000?
Well the title says everything so I might as well make this analysis a short one.
BTCUSD is rising aggressively having almost filled the Gap from November 2018, when the final big drop took place. It is now about to test the MA100 (black) on the weekly chart, which is essentially the final bearish barrier before it starts rising and never look back.
If the MA100 breaks, BTC will most likely wave the 3000 - 4000 level and MA200 good bye for good and eye $10000 by the end of the year. If rejected on the other hand it will most likely seek support on the 1W MA20 (orange). This pull back is projected within 4200 - 4500, giving one last good buy entry before the 10000 mark.
I need to make very clear that in all of Bitcoin's recovery phases, the MA20 on weekly has been revisited at least once before the new bull market officially began (as seen below):
So what do you think? Do you expect the MA100 to reject the price and give those late to the party a final chance to buy? Or we are on a journey straight to 10000? Let me know in the comments section!
Related material:
BTCUSD is rising aggressively having almost filled the Gap from November 2018, when the final big drop took place. It is now about to test the MA100 (black) on the weekly chart, which is essentially the final bearish barrier before it starts rising and never look back.
If the MA100 breaks, BTC will most likely wave the 3000 - 4000 level and MA200 good bye for good and eye $10000 by the end of the year. If rejected on the other hand it will most likely seek support on the 1W MA20 (orange). This pull back is projected within 4200 - 4500, giving one last good buy entry before the 10000 mark.
I need to make very clear that in all of Bitcoin's recovery phases, the MA20 on weekly has been revisited at least once before the new bull market officially began (as seen below):
So what do you think? Do you expect the MA100 to reject the price and give those late to the party a final chance to buy? Or we are on a journey straight to 10000? Let me know in the comments section!
Related material:
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