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Bitcoin Price Forecast: Bullish Momentum Builds
Bitcoin triggered several bullish breakouts on Wednesday as it exceeded a downtrend line, the 50-Day MA, and advanced out of a head and shoulders pattern. Further, yesterday’s close was above all breakout levels thereby confirming strength of the advance. Today is a rest day with Bitcoin trading in a relatively narrow range and successfully test the neckline of the head and shoulders pattern as support (light dotted blue). Once resistance is exceeded to the upside and then tested as support, the advance is cleared to continue to strengthen. A daily close today above the 50-Day line at 65,107 will provide an ... (full story)
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- Posted: May 16, 2024 5:37pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 311
