Bitcoin Weekly Flips Bullish

BTC/USD COINBASE:BTCUSD

ScottMelker

The weekly chart has flipped two extremely key levels to support – at least for now. What are those levels? The 50 MA (blue meandering line) and the area around $45,500, which I have been discussing ad nauseum for months. This “should” signal that Bitcoin has exited accumulation and is completing the bottoming process. But Bitcoin has a way of defying technical analysis and logic, so nothing is certain. We really want to see these support levels hold in the coming days and weeks.

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