We thought bitcoin will not climb till towards the end of the year but indeed this year seems to be different in every way.
Bitcoin price shot up to $58,000 before retesting again the waters and this time bitcoin is going for higher grounds.
O the daily timeframe, bitcoin price has comfortably secured a MACD cross upwards above the zero line. This is a strong bullish move that is about to set in.
In the meanwhile, dropping to the 4hr timeframe, we see that before the climb actually happens, bitcoin price seems to want to say hi to level $51,200 before continuing its upwards journey. After the test of resistance turn support, level $51,200, then the next big move should occur.
This week we will remain bullish on bitcoin.
Looking at the technical indicators:
- Major Support Level – $51,200