Hello traders, please hit the like button if think this idea is useful. Bitcoin is back above the rising trendline, currently the 50 MA is acting as resistance, but we are also getting supported by the 20 MA. 
As you can see on this 2h chart, we are in a bull flag pattern atm. If we get an upwards break through this bull flag, we could als break the 50 moving average. If we manage to do that, bitcoin looks bullish to me. It would be even more bullish if the 20 crosses above the 50 MA. That could potentially happen one of these day. In short: we have to wait until there's confirmation. Next resistance level after the 50 MA is around $7350.
As you can see on this 2h chart, we are in a bull flag pattern atm. If we get an upwards break through this bull flag, we could als break the 50 moving average. If we manage to do that, bitcoin looks bullish to me. It would be even more bullish if the 20 crosses above the 50 MA. That could potentially happen one of these day. In short: we have to wait until there's confirmation. Next resistance level after the 50 MA is around $7350.
Note
Bitcoin is currently trying to break through the bull flag. If it breaks above the bull flag, you could consider opening a long position and close it at the 50 MA resistance.Note
Bitcoin fell through the downside of the bull flag, you can consider opening a short position. You can close it on the first support level around $6970. Then wait, and maybe open a new short position if we fall throug that support level.Note
Bitcoin closed the 1h chart above the 50MA, this is very bullish guys! 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.