This article, unlike the others I normally write, will be fast ... I swear!
We have some bullish news!
In case you haven’t noticed, I’m here to inform you that the Bitcoin bull market support band, which consists of 20 week SMA and the 21 week EMA now ranges from 15.4k - 16.8k. This is the price level that Bitcoin would want to definitively hold on weekly candles to maintain the integrity of the bull market. Right now, we are very far away from this level and it will seem out of reach to many. However, remember that the Bitcoin bull market support band is a moving target and by the time we test it, these moving averages could be much higher than they are today.
But one fact is real... nothing goes up forever!
The question now is: Is this the new support for Bitcoin?
Are we going to revisit and restore this support, which would give many people one last chance to buy Bitcoin below 20k before it hits, the target that now appears to be common, $55k-$100k by the end of 2021?
Leave your opinions, analyzes and points of view in the comments below, they are always welcome!
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See you next time!
