Analysts were excited as they expected what is termed a bull cross in trading terms. This simply means that Bitcoin could rise significantly higher in a short span of time than is usually seen with trading, its like a bull rush, fast and intense.
The BTC ability to remain above the $5,800 threshold has caused some analysts to think that BTC will be able to break the $7,000 mark that many believe it wouldn’t break. One analyst on Twitter felt it was an oncoming event and shared a chart to show his reasoning why.
Looks like BTC picked the green way.
Big Cheds tweeted similar sentiments and shared his thoughts and a chart:
Bitcoin 4 hour -Flexing a potential 8/34 EMA bull cross.
The major issue with forecasting on trading is the inability to always be accurate with the numbers. While common trends could help determine which way trading could go, it’s not always a guarantee. Up to this point. BTC has left many of its critics speechless as they wait to see its failure.
What are your thoughts, share them with us see Newsbtc.com