Bullish Momentum Continues in Cryptos, As Bitcoin Makes New Record Highs
Bitcoin bounced off the 50 daily SMA in January and today it is trading above $ 44,000
It doesn’t seem like there is an end to the bullish run in cryptocurrencies. Just when you think that it might have stopped, buyers come in again and digital currencies resume the bullish trend again, pushing to new record highs.
ETHEREUM hasn’t stopped at all actually, trading above $ 1,700, but today BITCOIN joined it as well, as buyers pushed above the early january highs. Right now Bitcoin is trading at $ 44,500s, and the upside momentum is only picking up pace.
I have updated the price a few times now, as the surge keeps taking Bitcoin to new highs. The 50 SMA (yellow) held well as support several weeks ago, after the pullback lower. The price bounced off that moving average and today alone Bitcoin has surged more than $ 6,000 from the bottom to the top. This shows that cryptos will remain bullish as they are acting as safe havens now, so we will try to buy dips lower.
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