Last week we expected bitcoin price to drop to $48000 and even lower, yet we expected that this might not last for too long not knowing it wouldn’t even smile at $48,000.
A great shift is on now as bitcoin price hits $59,000 and should extend to our all-time high, $64,000 this week.
At level $56,236, there was a resistance that was broken and converted to support and this gave bitcoin a bounce assisted by the MACD moving average cross to the buy zone.
Looking at the technical indicators:
- Major Support Level – $$56,236