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
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