BTC BULLISH GOLDEN CROSS 1DAY TIME FRAME
Updated
After 7 Months when bitcoin touch 13,929 region the price dumped up to 6410 which is a -54% drop from the peak of 13k region now finally bitcoin broke this support old trendline on January 06, 2020 making it's first new higher high touched 9193.5 region on January 19, 2020
a healthy pullback is expected between this support region at 8241-7747. We can see our incoming first Golden Cross of this year 2020 crossing 50 Moving Average and 100 Moving Average if the bull can manage to hold this area support between 8241-7800 region inside this upward channel when the pullback is over we can see a bull rally going towards 9k region and making it's 2nd higher high.
If bitcoin drops below strong support at 7676 this upward channel will be invalid and will change the scenario into a bear market of 2020.
Note
Note
BTC breakout this fallen wedge pattern and broke the trendline . Now BTC needs to hold support between 8400-8300 to confirm more bullish price action.
bitcoin trying to breaks resistance area at 8484-8500 let us see what will happen in the next 24h when weekly candle close above this resistance area .
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