CryptoTough

Is Bitcoin 5000 Coming?

Long
BITFINEX:BTCUSD   Bitcoin
After nine days of hardly any movement, BTC finally decided to spurt to the upside with some volume. Looking at the daily chart, you can see the trend line resistance near 4000. It's only day two in this move off of that flatline action, so there's a high probability that the trendline will be broken. If that happens, it opens up a move to the 200-day moving average, which is currently near 5200 and dropping. I will stay bullish if a break over 4000 can hold.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.