Bitcoin (BTCUSD) is slowly conquering multiple resistance levels at once... Let's take a look at those:
2020 Started with a Bang! for Bitcoin after a low was set at $6853, followed by MA200 (black line) conquered and prices moving up all the way to $7402...
The growth stopped there (light blue square) which is where EMA200 (brown line) is sitting.
After a short period of consolidation Bitcoin continued to move up and managed to close above EMA200, now also breaking the black trendline as well as the $7420 level.
All these are important resistance levels.
These are early... The last 4H candle is active and this signal is only confirmed after the candle closes.
If prices for Bitcoin (BTCUSD) remain above $7420, we can expect some additional growth.
I will share another update on the daily timeframe tomorrow for a longer-term view... Let me know in the comments section below if you prefer hourly (1H), 4H, daily (D), weekly (W), or monthly (M) for additional analysis.
Thanks a lot for your continued support.
Remember to hit LIKE!
Namaste.
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Previous analysis | XBTUSD (4H)
BTCUSD (D)
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RESTING IS HEALTHY
Everything you do on a daily basis consumes energy... That being working, talking, walking, thinking, and even getting ready for what comes next.
We know how important it is for us to eat healthy clean foods, if we want to be wealthy, smart, and rich. We know that we have to do exercises to be active and strong. But resting is the most important of all.
To be able to think straight, we need rest. To be able to produce the results we want... rest. Everything we do, we do for the things that we like and appreciate.
The break will help you do more, produce more, and enjoy the fruits of what you did until this day.
So leave your doubts for the things that are hard. Forget the worries they don't help anyway.
If for the next time you want to continue to be good, do good, be strong, and at the same time grow as much as you can...
Then it is time for you to lay low...
It is time to take a break!
Namaste.
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