Bitcoin is starting to look good on the weekly timeframe... But we have to wait for tomorrows weekly close.
On this chart we can see that BTCUSD closed above EMA10 last week. This week we see Bitcoin moving above EMA21 and EMA50, which is really good... We wait for tomorrow for confirmation tomorrow though.
Above EMA21/EMA50 with have immediate resistance in the $ 45,850 top. This is the decision point...
Breaking the $45,850 resistance, will send Bitcoin above $52,000 to $55,555 or more...
We see around $57,000/$58,000 as a top if the bulls get to continue pushing prices up... But it isn't that simple; read the article below for the full view of how I think things will go:
Yes, Bitcoin will definitely go to $300,000/$500,000 (3-5 Years from now) but we have huge potential for a new low before this scenario show sup...
Thank you for reading. Thanks a lot for your continued support.