Since the immense sell-off of the last few months, BTC is finally showing some huge bullish signs. The $44,500 resistance was an area which continued to cause troubles, but it seems that’s not the case anymore.

Assuming we close the daily candle above this area, I’m expecting a lot of bears and patient traders to start pouting in their funds into the market. If all goes well, I think there’s a decent probability that were going to trade around $50,000 in the coming week.

Since we had such a huge run-up recently, we should be aware of the possibility for some profit taking in the coming days. However, this is only good for the market since it allows some overbought indicators to reset their values.

Happy trading!