We have a "V-shaped" bottom and there was only one barrier left to know if Bitcoin would produce additional up.
- This resistance is at $7865 and is now being challenged on the .
- Prices for BTCUSD are safely trading above EMA50 (magenta line) on indicators.
- The is showing a young cross while the is now sitting above 50.
- All the EMAs were tested and held as support, including MA200.
If prices close weekly above $7865 (EMA50), we can easily see Bitcoin move higher and hit $9000+, which has been our target since March.
Do you believe Bitcoin will continue higher or a drop is imminent?
Share with us in the comments section below.