Bitcoin Daily & Weekly and EMA50 | Bitcoin Is Going UP!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin moved and closed above EMA50 to the upside for the first time since October 2020... (Think about that one for a minute).

EMA50 is a strong indicator for crypto on any of the higher timeframes.

After October 2020 Bitcoin grew all the way to a new All-Time High in April 2021.

Then Bitcoin closed below EMA50 and a long correction took place.

Now we are back above EMA50 and this opens the door for additional growth.

The RSI and MACD , daily, are now also really strong.

The MACD has moved above zero to the upside for the first time since January 2021. The last time this happened we had massive growth.

The RSI is at its highest level since April 2021.

What this all points to is a resumption of the bullish phase.

Bitcoin Weekly

Now, try to recall an article I wrote a while back mentioning how this ATH wasn't similar to past ATHs... And the price action so different.

On the weekly timeframe , Bitcoin has decisively closed above EMA50 and is now starting to grow strong.

This is all just happening now; it needs time to develop... But Bitcoin is going UP!

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Dont go overly bullish. It may be a bull trap. Be careful.