BITCOIN One barrier left to break

BTCUSD has broken above the 4H MA50 (blue trend-line) yesterday, restoring the bullish sentiment on the medium-term. In order to do that on the longer-term two, there is only one barrier left: the 4H MA100 (green trend-line) which happens to be just above the Lower Highs trend-line that started after its most recent All Time High (ATH) of April 14.

** Similar to late March **
The current sequence is quite similar to the last time Bitcoin attempted to recover the 4H MA50 and MA100 after a bottom, and that was after March 25. As you see, the March 25 bottom was made following the March 13 ATH and initially the 4H MA50 broke and after a short consolidation, the 4H MA100 followed. Breaking of the 4H MA100 coincided roughly with breaking the Lower Highs trend-line of the March 13 ATH (also check how the Lower Highs later became a Support, so keep that in mind for the future).

The current sequence is so far quite identical, which indicates that until the 4H MA100/ Lower Highs trend-line Resistance Zone breaks, BTC may consolidate using the 4H MA50 as Support. See how the RSI and MACD values are also symmetrical between the two sequences.

Do you expect a consolidation now and confirmation of a long-term uptrend when the 1D MA100 breaks? Feel free to share your work and let me know in the comments section!



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