Bitcoin Nearing Our $11,500 Target…Can Bulls Be Stopped?

In my last update we discussed the blue sky between where bitcoin was ($10,400) and resistance at $11,500. Bitcoin continues to close in on that target, reaching a new yearly high of $11,300. Daily volume seems healthy and steady at just over $20 billion.

Looking at the weekly, chart we can see price is again stretching the upper Bollinger band. We’re well above the 8 EMA. We can also see the gap between the 8, 21 and 55 week EMA is widening. This is a very bullish sign of strength.

While we look very bullish longer term, we are long overdue for

About the author: Workin 2005
Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom

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