Dear traders,
Bitcoin recently had a golden cross occur with the MACD lines which is a great sign for bullish activity to come from bitcoin , this was swiftly followed by a rally of bitcoin . At the time of me posting this Bitcoin is up over 7% today alone. However if this is a false breakout like the past two times this occurred this year we could easily go lower and if we were to break the 6,000 support line we could see bitcoin test 3,400 by the end of the year. However if Bitcoin is to continue this rally and break the 8,600 resistance with high volume and continue this trend and pass 10,000 which is a psychological barrier that bitcoin must break we could see bitcoin hit 13,000 by the end of the year again. In conclusion however I believe Bitcoin is more likely to remain bullish than turn bearish for the short term atleast, this is down to the fact bitcoin is back above the 21 EMA daily as well as a golden cross occurring recently.
I'm not a financial adviser please do your own research and don't base your financial decision off the data I've provided as i'm not liable to your loses.
Bitcoin recently had a golden cross occur with the MACD lines which is a great sign for bullish activity to come from bitcoin , this was swiftly followed by a rally of bitcoin . At the time of me posting this Bitcoin is up over 7% today alone. However if this is a false breakout like the past two times this occurred this year we could easily go lower and if we were to break the 6,000 support line we could see bitcoin test 3,400 by the end of the year. However if Bitcoin is to continue this rally and break the 8,600 resistance with high volume and continue this trend and pass 10,000 which is a psychological barrier that bitcoin must break we could see bitcoin hit 13,000 by the end of the year again. In conclusion however I believe Bitcoin is more likely to remain bullish than turn bearish for the short term atleast, this is down to the fact bitcoin is back above the 21 EMA daily as well as a golden cross occurring recently.
I'm not a financial adviser please do your own research and don't base your financial decision off the data I've provided as i'm not liable to your loses.