BTCUSD 05.04 Technical Analysis

5 Nis 2019

A bit of clarity in the current situation with Bitcoin brings a combination of moving average with a period of 100 and 50 on the weekly chart. You can see how well the price worked out a rebound from a more sensitive average over almost the entire 2018 year. The extremes gradually decreased and as a result, the second half of November 2019 was remembered by the strait of exchange rate to $ 3,200. The next couple of weeks will be decisive for Bitcoin. We will either solidly consolidate above the EMA 50, which will inevitably trigger a massive “bullish euphoria”, or will again bounce to the MA 200, to the level of $ 3,600 - 3400.