Breaking out of major resistance (indicated in black), Bitcoin seems to be signaling the start of a long-awaited bull run. Sitting just under another set of long-term resistance lines BTC has wicked through them once already on the 1-day chart and currently sits above them on the 4-Hour. It does appear price action is struggling to stay above them on the 1-hour however, the MACD and RSI are showing positive signs for that time period. Overall, things are looking great these last few days as volume remains steady and news outlets roll out bullish stories left and right.
The second largest exchange in Germany will be opening a crypto trading app later this year.
Forbes Magazine suggests BTCs recent $6800 low was just people pulling money out to pay taxes and that its plausible after “tax day”, April 17th, markets will see more increases.
Experts are predicting BTC price action to reach $25,000 this year.
Bitcoin’s price has not fallen below my .618 on the 1-day chart since October 17’. Beginning a pitchfork mid last year, when the market value was just below $2000, we can see a nice channel created for upward movement. Though as traders and analysts we have certainly felt the sting of the bear market these last few months indicators are all showing strong signs of bullish movement...let's cross our fingers this is not just a good looking trap!