Bitcoin Bulls Back In Control, As They Steal $47k From The Bears.

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(Edited)

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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.

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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.

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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.

Posted Using LeoFinance Beta



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2 comments
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We need to see some macrofundamentals that helps Bitcoin to reach those highs again, hopefully we end these year as we hopes!

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