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

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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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Previous analysis | XBTUSD (4H)


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