As we all know, bitcoin has finally broken out of the main channel. But does this mean we are finally out of the bull-market? Here is my opinion. I think we will have to retest the 200MA. If this mayor resistance is broken, we can finally talk about a real BULL-MARKET. In the short term, we will see the price rise to 8800.
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The price is most likely to breakout in a bullish way, so if you want to trade this you can put an entry at 0.20500 with a stoploss at 0.20200. Be carefull and renember to use a stop-loss!!
As many say bitcoin has fallen 3% due the speech of Trump about the war with Iran, the real reason is that we got rejected from the 20-week MA. On macro-level these are very important indicators. In the past The 20-MA has rejected the price several times until we got supported by the 200-Week MA.
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