Bitcoin 5 Year Most Important Support, End of Week Recap

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As we discussed in the recent 4 reports, Bitcoin continues to flirt with the long-term 100 moving average which we have now stressed multiple times is the most important support zone in 5 years. Not much has changed since the last update, as that support level continues to be super strong in detemrining the long-term sentiment for Bitcoin . We will continue to watch next week, as we are not sold on the direction it has chosen to take yet, despite the small bounce upwards. We need more conclusive evidence of the long-term bullish signal and not just a typical bitcoin bull trap. You can see our original analysis here where you can leave your thoughts / concerns. Have a great weekend!

-Visionary Financial ( VF )

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