Higher Bitcoin (How Far Up Can It Go? Beyond 2020 Halving)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Few questions are starting to come up now that Bitcoin ( BTCUSD ) is clearly moving higher...
- How far up can it go?
- Where can we find the important support and resistance levels?

We are looking at Bitcoin ( BTCUSD ) on the daily (D) timeframe

  • We have really good trading volume , the bulls are now in full control.
  • EMA300/MA200 fully conquered today. Now that EMA300/MA200 is being conquered (this signal only confirms after the daily candle closes above $7930) more growth can happen.
  • We a "V bottom" which is also a higher low compared to Dec. 2019.
  • We have a very strong RSI sitting at 75.1 while aiming higher.
  • The MACD is bullish and allows for plenty of additional growth.

Now, will Bitcoin continue higher?

Looking at today's candles, it is possible for Bitcoin to continue higher on a strong close today.

The next strong resistance is sitting in the $8900 - $9100 price range.
This is the next level to break if Bitcoin wants to go higher.
If this price range can be conquered, we can see ~$10,500 next followed by $12,000.

On the other hand, we look for support first at EMA300/MA200 or the $7900 - $8000 price range if BTCUSD prices drop.
Below this level, we have strong support at $7700 now marked by EMA10 and finally $7300 or EMA50.

Bitcoin is now strongly bullish and can continue higher.

Below is our weekly analysis:
Bitcoin Weekly "V Bottom" Moves Above EMA50 (Where To Next?)

Bitcoin Prepares To Jump? $8000 As Resistance Next!

Thanks a lot for your support.

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On time fighting resistance either 10.5 k or 7k :) time to short!
+1 Reply
@sumairk, Thanks for sharing.
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