The Bitcoin Bulls Are Now In Favor!

11 Feb 2021

Bitcoin continues to grow and moving with a bullish bias.

We can see some bullish consolidation take place with resistance now set at around $48500.
This is the level that is being challenged on the current candle.

We have multiple levels to look at mainly as resistance, short-term, on the way up:

1) $51000
2) $56500
3) $65500

The bulls here clearly have the upper hand, we remain bullish on BTCUSD 12H as long as prices remain above $44350 (EMA10) and $37900 (EMA50).

The $30,000 to $33,000 price range is now the main support.

We believe that Bitcoin can move higher as mentioned in the previous trade ideas (visit my profile).

Thanks a lot for your support.

Namaste.