Bitcoin's bullish move continues and BTCUSD marches higher. The daily 34 EMA is valued at $12,410 and will be a formidable zone of resistance.
Daily Chart
34 EMA: $10,205
89 SMA: $12,410
The daily chart shows the first signs of bullish life with the Bitcoin price now valued above its 34 EMA. However, caution persists until BTCUSD can trade above its 89 SMA and the fast moving average crosses above the slower one. The next resistance zone is the 89 SMA at $12,410, and support comes in at the 34 EMA at $10,205.
4-Hour Chart
34 EMA: $9,725
89 SMA: $8,675
The strong advance on the 4-hour chart continues, and the bullish chart structure remains intact. BTCUSD continues to extend above its rising moving averages. The rising 34 EMA at $9,725 will provide support.
DISCLAIMER
This post is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action.
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