Bitcoin's weekly has sustained above 9DMA which confirms a strong bullish momentum continuation ,the historical bull market support 20WMA is around 28k which looks to me highly unlikely to be tested as support in february . Both previous high and 9WMA almost coincide around 41.5k that could be the strong zone of demand.
Bitcoin (BTCUSD) has given a breakout in 2H chart from an ascending triangle pattern. it also seems like a Bullish pennant. First target is likely around 53000 - 54000 level while the second target as per bullish pennant is around 57000.
Stop-loss can be kept around 46000 levels.
Disclaimer: - These views are for educational purpose only and not a recommendation.
Bitcoin is looking good weekly so far... The retrace the past 3 weeks was short-lived and didn't hit EMA10.
We remain bullish as long as prices are trading above EMA10.
In this timeframe, EMA10 for BTCUSD is sitting at 30396.
On this current trend, BTCUSD weekly is aiming at the ATH at $42,000, that is if we continue to see follow up from the buyers.
Above...
Bitcoin Cash price is up by 2.65% on Saturday's trading session. The price is consolidating for now and can see no signs of positive retracement during the session. So the trend remains negative price may fall till the support zone of 409.50
Resistance: $547.00
Support: $409.50
Bitcoin Cash Value is down by 7.42% on Friday's trading session. The price is below 20 and 50 days EMA, and it can move towards the support level of $391. One can further expect a short term recovery in the coin for a while, and then it can be bearish in the upcoming trading session.
Resistance: $494.39
Support: $391.10
Bitcoin will complete this H&S pattern first along with distributing real wealth to late participants before hitting a new ATH. or it might happen Btc go to zero.
