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BITCOIN - Short Term Bullish Recovery

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BITSTAMP:BTCUSD   比特幣
Cryptocurrencies had a great week recovering, Bitcoin is on track for it's best weekly gain since October last year.
As Global markets are adapting to rate hikes we are positive that Bitcoin will continue a short term bullish recovery
However, It is certain that following rate hikes will going to make U.S Dollar even more stronger and reducing
investor sentiment. Ergo, Cryptocurrencies will have to continue facing the turbulent times.

Technical Analysis,

1.) Strong Monthly Support - Monthly Candlestick Reversal
2.) Impulse Wave pattern - Bullish Formation
3.) Crossed 50 Month M.A - Bearish Sign

Conclusion: BTCUSD expected to reach 28000 level before it starts correcting.


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