Bitcoin Blows Past It's Resistance- Headed to $5,100

Bitcoin Blows Past It's Resistance- Headed to $5,100 In an amazing overnight move, Bitcoin moved almost 18%...

6 months ago, comments: 2, votes: 23, reward: $0.50

bitcoin-2007769_1920.jpg

Bitcoin Blows Past It's Resistance- Headed to $5,100

In an amazing overnight move, Bitcoin moved almost 18% to $4,800, which is $300 beyond the previous resistance level of $4,500.

Bitcoin finally traded above its 200 DMA, with the last occurance of this happening in May of 2018, almost a year ago. The move came on April 1st, 2019 after altcoins including Litecoin, XRP and BNB spiked last month. The golden cross pattern produced a bullish move, and this was certainly not an April Fools joke. This is a substantive and overdue movement.

It appears this could be a legitimate move, and the breakout beyond the resistance level and move above the 200 DMA are great technical signals. A retracement or slight correction may occur in the Bitcoin price as traders take profits. My prediction of a second quarter 2019 Bitcoin breakout is looking more promising.

Sources:

https://beincrypto-com.cdn.ampproject.org/v/s/beincrypto.com/btc-bitcoin-price-analysis-april-2019/amp/?amp_js_v=a2&_gsa=1&usqp=mq331AQCCAE%3D#referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&ampshare=https%3A%2F%2Fbeincrypto.com%2Fbtc-bitcoin-price-analysis-april-2019%2F

https://www.theblockcrypto.com/2019/04/02/bitcoins-recent-surge-has-very-little-to-do-with-algos-and-april-fools-heres-why/