Bitcoin Price Analysis | BTC Looks Bullish after Golden Cross

in #bitcoin • 5 years ago

Bitcoin is about to cross the daily approaching very soon. Once it crosses and holds it will be the first time since April 2018 that 50 EMA is above the 200 EMA and etc can start riding as it becomes support instead of resistance.

Be aware though, a lot of times at a cross like this it can be met with resistance causing a downturn.

Connect that with the fact we are approaching the end of a larger 5 wave set that has played out, The WEEKLY RSI is heavily over bought and the $6000 test is a very high resistance area. This is a position to be taking some profits from earlier buys, not really a time to enter. The crucial part of the next bull run will not simply be the cross on the daily, but whether it can stay there and ride the support.

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#btc #price #crypto #analysis #partiko
5 years ago in #bitcoin by
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