Bitcoin Goes Bullish Again

in bitcoin •  5 months ago

If you're monitoring crypto market currently, then you must be aware of the latest price spike in Bitcoin. BTC was making lower lows for last 2-3 days and the trend was not certain. But now a clarity has gained by the Bitcoin when it crossed 20EMA on daily chart @ $6500 and currently trading above $6600.

Now, the next resistance level for BTC to cross is $6800 and this is the most crucial level of resistance as it holds a large volume in the past. If BTC fails to break this level, then we might expect BTC to come down to $6400 again. 

So, can we say Bitcoin has gone truly Bullish and we should take entries in our favorite alt coins?

Well, this is hard to say. Until unless BTC breaks and trade above $6800, trend can't be said Bullish for certain. 

A lot of traders are still Bearish over Bitcoin and still sees $5000 level as the Bottom. 

Now, all we can do is wait and analyse the BTC movement in coming days.

But for now, sentiment has turned Bullish as some euphoria has entered into the market as soon as BTC broke previous level of resistance @$6500

Thanks for reading ....!!

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It truly is amazing how much velocity there is from bull to bear markets in crypto! It's almost like a quarterly thing!

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Yeah, I am highly optimistic about the future price action. $6800 is a key resistance. Keep an eye on it, if you're trading.

i believe the bullish run is near already and this are times to be remembered in the history of bitcoins, last year alot said they were taken unaware, this time around no excuse if you miss you forever regret.
Cheers mate and keep HODLING

I have been in and out of Bitcoin for a while now, but it's interesting to see the volatility that was in Bitcoin in the earlier years as well. The newest investors often doesn't know about this and look at Bitcoin as something of a bubble. I think the price will bounce, but very steadily this time around. This is because a lot more money has come into the market and volatility will therefore slow

Yes suddenly a big spike.. i hope we get continuations like this with smaller pullbacks

I'm not getting my hopes too high, but this looks much better than going under $5800 and going to $4200.

I'll keep my fingers crossed. Breaking $6800 will be huge. I made a random Tweet last night that I felt like BTC would turn bullish soon and FAST. Let's see if this break out will happen again.