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.
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