Bitcoin & EMA377 —Headed towards $94,400
A month ago, 14-January, $BTC stopped a small period of growth once it found resistance at EMA377. This level produced a strong rejection leading to a $60,000 crash.
Now that the market is turning, the bearish wave being over; the same level that worked as resistance will be tested again to see if it holds or breaks. This would give us a minimum target close to $94,400.
Based on Fibonacci levels, we have $83,903 as the next target with $100,000 also being possible.
Here we are using a different method to confirm that $83,900 is actually a very easy target, one that will definitely break on the way up. We can expect to see Bitcoin growing for months.
The same EMA377 daily matches EMA55 on the weekly timeframe. This further supports an advance above $90,000 on the current move.
After a small retrace $BTC is turning green today, but the bullish phase started 6-February. This phase can last 1-3 months before a correction shows up.
Remain open to all scenarios. Looking at the altcoins market, it is possible that the bear market is already over and we are set to experience long-term growth.
The first milestone and full bullish confirmation comes once Bitcoin moves and closes daily above $72,300. After this level the next resistance sits at $78,500 followed by 84K.
This move can take its time to unfold. As Bitcoin is confirmed bullish, the altcoins market will produce outstanding growth. Many are already moving up strong. And this is just day one.
Ethereum is already trading back above $2,000. A major bullish development.
The big three are green. The big projects are moving ahead. The smaller projects are also bullish. Everything will speed up. The market was bearish long enough.
