Bitcoin finally decided which way to go, and that's the way of the bulls.
Please allow me to entertain you for a few minutes and let's look at some of the signals coming from the charts:
1) A strong green candle broke through EMA10, the main resistance to break to change from bear to bullish potential, supported by big volume.
2) Today Bitcoin is seeing its highest volume since December when it had its last bullish wave.
If this momentum is to be maintained by buyers, I expect Bitcoin to go as far high as its last peak, which sits at $4384.
3) The next challenge to break is EMA50 (magenta line), which held Bitcoins price on the way up.
Additional bullish action is expected.
Conditions for change: If BTCUSD price moves down and closes below EMA10. The above signals are invalidated and a new analysis is needed. Bitcoin would be back trending bearish-sideways if this scenario plays out.
What's your take on Bitcoin's next move?
Let us know in the comments section below... And before you go, let me share a message for your entertainment and fun.
GROWING LIGHT
Growing with light, within light is what we all are.
Growing in this life with light, as we experience our own great intelligence and might.
You need to make up your mind. You can be bearish one day and bullish the next day repeatedly over and over. Makes you lose credibility. Now everybody knows what the direction is and you are just stating the obvious. Hopefully we can see real Ta from you one day. Because I know you that are capable of doing a good job!