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Bitcoin bullishness ahead of the halving event challenging the 10K and heading up


Chrt 1 - Bitcoin 60Min chart

Bitcoin has been having a strong bullish momentum after its break of the $9,400 resistance and is seen moving in a steep ascending course, here depicted as a linear regression channel.
On the chart, we see that the price has been following the (red) trendline, the price bouncing off it a couple of times when the price retraced from the $10,050 line. Now it is heading up again and crossing the 10K psychological level. So, considering that the regression channel is heading up, the price moves above its 50- and 200-SMA and the RSI is turning up from 60, we think this consolidation restructure can be broken very soon.

If the buyers manage to break the $10050 line, it is highly likely they may push this digital asset towards the 10,050. Also, if the weekend previous to the day of the halving continues with this bullish momentum, it is highly likely BTCUSD could be pushed to touch the top made on February 13 od $10,490.

Key Levels

Entry: 10051

Invalidation: 9690

Potential targets: $10,250 and $10,450.

Source: https://www.cryptorocket.com/news/bitcoin-bullishness-ahead-of-its-halving-event-challenging-the-10k-and-heading-up/
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