Bitcoin's Recovery Gains Momentum, Aiming at $42k, $49k & Beyond

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
When we see a bounce like we are seeing now, we have to be wary of bull traps and dead cat bounce, but this doesn't seem to be the case.

Bitcoin is now gaining momentum and now aiming to reach the last high at $42,000 and probably much higher.

Prices retraced and found support at the EMA100 blue line and now the bullish bias is back on.

Resistance is being faced now at ~$39,500... Additional details on the chart.

Comment: We have a lower high for Bitcoin... This doesn't look good.

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