BTC/USD TA Update (Weekly Bullish Candle - 14k Target?)
BTC/USD
Bitcoin closes the week above 10k regions with a bullish engulfing candle indicating strong present from the bulls during its rally from 6400s and now up over 55%.
With the bullish cross of 12EMA & 26EMA telling us the weekly bias momentum has shifted to the upside after a strong breakout the trend-line resistance at mid 8500s.
Bulls have a lot of space to work with if incase the 10k support fail, it has tons of support area to continue its uptrend if it loses the daily higher low.
Traders who are looking for weekly higher low are definitely scouting once the short-term uptrend is losing, depending on where the area could the weekly higher low to form.
Better watch out as I'll be looking for mid-term trade for Bitcoin when the opportunity presents itself.
Bitcoin closes the week above 10k regions with a bullish engulfing candle indicating strong present from the bulls during its rally from 6400s and now up over 55%.
With the bullish cross of 12EMA & 26EMA telling us the weekly bias momentum has shifted to the upside after a strong breakout the trend-line resistance at mid 8500s.
Bulls have a lot of space to work with if incase the 10k support fail, it has tons of support area to continue its uptrend if it loses the daily higher low.
Traders who are looking for weekly higher low are definitely scouting once the short-term uptrend is losing, depending on where the area could the weekly higher low to form.
Better watch out as I'll be looking for mid-term trade for Bitcoin when the opportunity presents itself.
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