- 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 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.
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