Bitcoin is on the move again and we are seeing impulsive moves similar to what we witnessed back
in 2017 where price almost reached $20,000.
Following the decline in December 2017, price came down to the weekly 200 simple moving average
where it found support before starting another bullish rally.
Price didn’t travel as far as the previous trend and only reach a high of $13,880 before starting a
slow decline to the weekly 200 simple moving average once again.
From March 2020, price has been gaining strength and has surpassed the prior resistance at $13,880
and now looks set to visit the all-time high at $19,666 set back in December 2017.
The current trend looks strong and the buyers are in control at the moment. If price does break
through the major resistance then we should see Bitcoin create record highs but the $20,000
round number is a strong level to break.
Other cryptocurrencies should start to follow suit and we are already seeing strong moves in Ethereum.
As Bitcoin is already too expensive, we want to look for lower priced cryptos that are trending strong.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
in 2017 where price almost reached $20,000.
Following the decline in December 2017, price came down to the weekly 200 simple moving average
where it found support before starting another bullish rally.
Price didn’t travel as far as the previous trend and only reach a high of $13,880 before starting a
slow decline to the weekly 200 simple moving average once again.
From March 2020, price has been gaining strength and has surpassed the prior resistance at $13,880
and now looks set to visit the all-time high at $19,666 set back in December 2017.
The current trend looks strong and the buyers are in control at the moment. If price does break
through the major resistance then we should see Bitcoin create record highs but the $20,000
round number is a strong level to break.
Other cryptocurrencies should start to follow suit and we are already seeing strong moves in Ethereum.
As Bitcoin is already too expensive, we want to look for lower priced cryptos that are trending strong.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
