Bitcoin Weekly Bullish ($14,000 Next?), Trading Above EMA10

4 lug 2020

We looked at all the reasons why Bitcoin (BTCUSD) can go bearish, over and over but technically we are strongly bullish with prices still trading above EMA10.

Our basic TA tells us that we remain bullish above EMA10 and bearish below.

EMA10 is the green line on the chart now sitting at $8971.4.

If Bitcoin remains above this level, we can easily see a jump follow.

When we look at some of the Altcoins that are growing big vs USD or USDT, on the weekly timeframe, we can see a similar pattern to BTC (A "V-shaped" drop and recovery) followed by additional growth.

We always remain open to all scenarios... Please keep in mind that Bitcoin can move higher as long as prices stay above this level.

If prices break and close below EMA10, the signals that we have been looking at over and over remain valid and the bearish view goes ahead.

But right now it is very easy for many to see Bitcoin drop, after four weeks of red but Bitcoin tends to move against the masses, which means That BITCOIN CAN EASILY GO BULLISH NEXT!

My target for a bullish jump?

Think about a high 13K to 14k.

What's your take?

Namaste.