The 50-day moving average just crossed above the 200-day moving average, a popular bullish signal in the crypto and financial trading world. Bitcoin dropped back to the $22k area (zone of the cross) and found pretty healthy support, from which it bounced back up strongly and made for the $25k mark.
$25k proved a stronger resistance than the bulls previously, though. Now letting out some steam, the bulls (or, shall I say, 'the manipulators') are gearing up for another try at the 25k resistance.
Remember that this is a long forecast on BTC, but it is short-term. A sharp spike upwards to $33k, then a flash crash to less than $0.1 and back up to $10k is expected soon (purely off the charts). Fundamentals aside, the strong support provided by the 50-day EMA will give Bitcoin bulls the extra juice they need to break up over $25k.
$25k proved a stronger resistance than the bulls previously, though. Now letting out some steam, the bulls (or, shall I say, 'the manipulators') are gearing up for another try at the 25k resistance.
Remember that this is a long forecast on BTC, but it is short-term. A sharp spike upwards to $33k, then a flash crash to less than $0.1 and back up to $10k is expected soon (purely off the charts). Fundamentals aside, the strong support provided by the 50-day EMA will give Bitcoin bulls the extra juice they need to break up over $25k.