Bitcoin Tops 200-wk Average
Bitcoin has broken above the 200-wk price average near 
25K and is now testing 28k. The current price candle is yellow indicating extreme bullish trend behind price.
The lower momentum indicator is still flipping bullish with green signal line rising above the 0 level, still waiting for the purple base line to rise above the 0 level for increased bullish trend signal.
The lower trend indicator show the green RSI line breaking out of its tight trading range between the 50-60 level, and is now above 60 and rising which indicates a healthy bullish trend behind price.
Overall, Bitcoin is still looking good for continued gains, and on a weekly basis, hasn't looked this strong since traders were taking price up to 70k during the Covid bubble.
Current resistance level to watch now is the $28-30k range, and the current support to watch for on any pullback is the25K level. 25K was previous resistance and in technical analysis that means it should now become a support level.
Today is Friday so I bought again this morning. Filled at 26.6k and new cost average is now 19.7k.
25K and is now testing 28k. The current price candle is yellow indicating extreme bullish trend behind price. The lower momentum indicator is still flipping bullish with green signal line rising above the 0 level, still waiting for the purple base line to rise above the 0 level for increased bullish trend signal.
The lower trend indicator show the green RSI line breaking out of its tight trading range between the 50-60 level, and is now above 60 and rising which indicates a healthy bullish trend behind price.
Overall, Bitcoin is still looking good for continued gains, and on a weekly basis, hasn't looked this strong since traders were taking price up to 70k during the Covid bubble.
Current resistance level to watch now is the $28-30k range, and the current support to watch for on any pullback is the
25K level. 25K was previous resistance and in technical analysis that means it should now become a support level. Today is Friday so I bought again this morning. Filled at 26.6k and new cost average is now 19.7k.
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