Hello Traders!
Today was a huge day for Bitcoin! For the past 6 months give or take bitcoin has been in a bearish channel but today was the day we finally broke through the resistance channel. IMO this has confirmed bullish momentum to the upside, on the daily timeframe you can see the golden crossover is about to happen(when the 200 EMA acts as support over the 55,21,13,8 EMA). My short term position is to wait for a correction to find support levels between $8,900 to $9,000 to see if bitcoin will hold support at those ranges. If so, then bitcoin will try and retest the resistance levels between $9,500 to $9,700 ranges. If those ranges are broken with a lot of volume then my next targets would be around 10k!
Today was a huge day for Bitcoin! For the past 6 months give or take bitcoin has been in a bearish channel but today was the day we finally broke through the resistance channel. IMO this has confirmed bullish momentum to the upside, on the daily timeframe you can see the golden crossover is about to happen(when the 200 EMA acts as support over the 55,21,13,8 EMA). My short term position is to wait for a correction to find support levels between $8,900 to $9,000 to see if bitcoin will hold support at those ranges. If so, then bitcoin will try and retest the resistance levels between $9,500 to $9,700 ranges. If those ranges are broken with a lot of volume then my next targets would be around 10k!