Bitcoin Set For A Late Christmas Rally?
April 2021 saw price decline 51% from a high of just under 
65K to a low
of 30k, where the 50 simple moving average was used as support.
There was a reversal back to the upside after hitting this indicator and
price went back towards65K, even exceeding the high from April.
In November, price fell again and came back to the 50 simple moving average,
and so far this week, price is starting to reverse back to the upside again.
There is a clear pattern where the resistance remains around65K and the
lows are getting higher and supported by the weekly 50 simple moving average.
If history repeats itself, then we should see another attempt at65K, and we
may even see price continue much further past this level.
Let’s see what happens as we go ino into the new year and see if the buyers
can build enough bullish momentum to make price form another trend.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
65K to a lowof 30k, where the 50 simple moving average was used as support.
There was a reversal back to the upside after hitting this indicator and
price went back towards
65K, even exceeding the high from April.In November, price fell again and came back to the 50 simple moving average,
and so far this week, price is starting to reverse back to the upside again.
There is a clear pattern where the resistance remains around
65K and thelows are getting higher and supported by the weekly 50 simple moving average.
If history repeats itself, then we should see another attempt at
65K, and wemay even see price continue much further past this level.
Let’s see what happens as we go ino into the new year and see if the buyers
can build enough bullish momentum to make price form another trend.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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