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Bitcoin: Its Alive!

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scaredycatguide
@scaredycatguide
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1 min read

Well well well....what do we have here. A random pump? The beginnins of an uptrend? A level up in range?

Regardless of what it is it sure is nice to see some upward price action in bitcoin the past week.

Attacking Old Support...

Looking at the daily chart above you can see price has pushed above the 19-20k prior support area and is making a run at what is essentially resistance at the mid 21K area.

The move happened quick and price is stretched from the 10 day moving average so either some consolidation or a pullback is certainly in the cards.

Ideally it will be the former so price can then level up again and go after more key resistance points.

Pretty sure this is not the price action people expected for January, but happy freaking new year.

Certainly not getting overly excited though being all this is thus far is an initial rally off the lows bitcoin floundered at for months on end.

We shall see what the rest of the month brings!

Posted Using LeoFinance Beta