Bitcoin - Long Above Key Support

May 05, 2021

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Bitcoin - Long Above Key Support by KQMarkets on TradingView.com

Commentary

We expect Bitcoin to continue moving higher whilst it remains above key support at $54400 as despite it being outperformed by other cryptocurrencies such as Ethereum recently it still has positive upward momentum.

This is highlighted by the 50 day MA being significantly above the 100 day MA and 200 day MA and we still believe the cryptocurrency has the potential to challenge the $100,000 psychological level at some stage this year.

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