Bitcoin Bulls Back In Control, As They Steal $47k From The Bears.
Image by AaronJOlson
After days of struggling between the Bitcoin Bulls and the Bears, the bulls finally have taking over after hitting a Golden Cross yesterday, also breaking out of the descending channel and the $46.5k, key resistance point.
The Golden Cross is where the short term moving average (50MA) crosses the long term moving average (200MA) to the upside. This signify an upward move.
Also price has broken the descending channel and broken above the $46.5k resistance level which is also a signal that the bulls are now get ready to continue the bull trend.
My expectations for Bitcoin now is to head for the resistance point at $50.4k and hopefully break it and continue moving up to a possible new ATH. Everyone who bought the dip should be smiling right now.
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