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Bitcoin Bulls Back In Control, As They Steal $47k From The Bears. by onwugbenuvictor

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hive-167922 · @onwugbenuvictor · (edited)
$1.91
Bitcoin Bulls Back In Control, As They Steal $47k From The Bears. 
![image.png](https://images.ecency.com/DQmZCGLudLDg3BQW9w3ocpTYqnDp3GQbZJxHC1dm1bm4dWg/image.png)
Image by [AaronJOlson](https://pixabay.com/photos/man-business-adult-suit-bitcoin-3126802/)

After days of struggling between the Bitcoin Bulls and the Bears, the bulls finally have taking over after hitting a Golden Cross yesterday, also breaking out of the descending channel and the $46.5k, key resistance point.

![image.png](https://images.ecency.com/DQmZXm8KfgRuECDvExa5AS55qxtm2wwbjHQopHa98SQgper/image.png)
[Source](https://www.tradingview.com/x/MnseCXcP)

The Golden Cross is where the short term moving average (50MA) crosses the long term moving average (200MA) to the upside. This signify an upward move.

![image.png](https://images.ecency.com/DQmWYmtigYV42VvWY1e1gYFZtdytVG59iDaFykf1hmAoCh5/image.png)
[Source](https://www.tradingview.com/x/99oKgw90)

Also price has broken the descending channel and broken above the $46.5k resistance level which is also a signal that the bulls are now get ready to continue the bull trend.

My expectations for Bitcoin now is to head for the resistance point at $50.4k and hopefully break it and continue moving up to a possible new ATH. Everyone who bought the dip should be smiling right now.


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@rihc94 · (edited)
We need to see some macrofundamentals that helps Bitcoin to reach those highs again, hopefully we end these year as we hopes!

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@rihc94/re-onwugbenuvictor-e6fou)
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@onwugbenuvictor ·
$0.08
Yes we do, and I really hope the end as we hope it will.
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