BTC is currently trading with an increasing bullish bias momentum. Since breaking above the three simple Moving Averages, 14, 52, 152, BTC has remained contained above these three SMAs and is showing signs of rallying even higher. While the price is contained above these three, as I stated earlier, I expect a surge to the upper side with an ideal take profit at $9,468.80. On its way upwards, the key lines to check for include $7,817.10, $8,947.10, and $9,485.30. If these lines are clearly breached, then further momentum to the upper side is expected. I will only consider a short position should the price break below the three SMAs.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Imelda Maseno
Analyst of «FreshForex» company
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