Bitcoin Breaks Another Barrier (Early Signals) | $7700 - $7990 N

5 בינו׳ 2020

Bitcoin (BTCUSD) is slowly conquering multiple resistance levels at once... Let's take a look at those:

• 2020 Started with a Bang! for Bitcoin after a low was set at $6853, followed by MA200 (black line) conquered and prices moving up all the way to $7402...
  
• The growth stopped there (light blue square) which is where EMA200 (brown line) is sitting.
  
• After a short period of consolidation Bitcoin continued to move up and managed to close above EMA200, now also breaking the black trendline as well as the $7420 level.
  
• All these are important resistance levels.
  

These are early... The last 4H candle is active and this signal is only confirmed after the candle closes.

If prices for Bitcoin (BTCUSD) remain above $7420, we can expect some additional growth.

I will share another update on the daily timeframe tomorrow for a longer-term view... Let me know in the comments section below if you prefer hourly (1H), 4H, daily (D), weekly (W), or monthly (M) for additional analysis.

Thanks a lot for your continued support.

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Namaste.

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