AlanSantana

Why Bitcoin Can't Grow? $40K Possible? MA200 Resistance Expl...

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is trying to move ahead once more and strong resistance is waiting at the $35,000 price level.

On this chart, we can see this level marked by the MA200 black line.

Looking back (zooming out)...

Here you can see how the MA200 indicator matches where Bitcoin is facing resistance each time it tries to move higher.

If this level can be conquered, we can expect to see Bitcoin at $40,000 and beyond.

Below MA200, we test the low at $30,000 or even lower but there was strong buying in this area... We have to wait and see how it goes.

Namaste.
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Comments

It’s funny to read this thought on btc.
It literally leaves a person exactly where they were before reading it.
Not knowing.
All good.
But that is expected when you are trading off of indicators and ma’s.
+3 Reply