BTC Pushing higher... again! Golden Cross! Resistance incoming?
Last chart we were sitting down around $5200's and ideally looking for BTC to hold that support area between $4900-5200. Bulls continue to show up and were able to get another push higher. I am changing to daily time frame now as BTC is really starting to look good again.
Only near resistance I had left on my last daily chart posting was up at $5665 (a previous high from back in November) and the move last night came within $15 of touching that level. Assuming the bulls are eventually able to break through that level, I will be watching a fairly decent range of what I anticipate will be heavy resistance. I have outline it within the colored box and it runs roughly between $6,000 and $6850 where BTC sat range bound for over 2 months in late 2018. Other things worth noting here on the daily chart. Supports are there and outlined a few key levels (green lines) with $4778 continuing to be crucial level but would love bulls to hold $4945 (or call it $5000 for those who enjoy more rounded/key levels). Also keep a close watch on daily 12 EMA. Bulls have held this as support for nearly a month now which is very impressive. And lastly we saw a Golden Cross occur (highlighted with the circle)... this has not occurred in BTC for years and should be a bullish sign. Lets see if the bulls can keep the climb, maintain their supports and start testing this box of resistance above!
Just My 2 Sats!
Only near resistance I had left on my last daily chart posting was up at $5665 (a previous high from back in November) and the move last night came within $15 of touching that level. Assuming the bulls are eventually able to break through that level, I will be watching a fairly decent range of what I anticipate will be heavy resistance. I have outline it within the colored box and it runs roughly between $6,000 and $6850 where BTC sat range bound for over 2 months in late 2018. Other things worth noting here on the daily chart. Supports are there and outlined a few key levels (green lines) with $4778 continuing to be crucial level but would love bulls to hold $4945 (or call it $5000 for those who enjoy more rounded/key levels). Also keep a close watch on daily 12 EMA. Bulls have held this as support for nearly a month now which is very impressive. And lastly we saw a Golden Cross occur (highlighted with the circle)... this has not occurred in BTC for years and should be a bullish sign. Lets see if the bulls can keep the climb, maintain their supports and start testing this box of resistance above!
Just My 2 Sats!
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