Bitcoin boom is indeed great. Bitcoin touched $61,800 and is planning on exceeding this new high. We expect the price to move higher soon.
We take it to heart that $53,722 is the new support level that the price is resting on. We expect it to move to the next high hopefully this week.
$the previous high, $58,000 may not hold for long for the movement of the new high.
The MACD moved to the oversold region with the histogram showing an impending change of direction of the trend.
At the cross of the MACD moving averages to the upside is the new uptrend movement.
Looking at the technical indicators:
- Major Support Level – $53,722
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