Bitcoin Finally Breaks Out Above This Important Moving Average

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In Brief
  • The Bitcoin price has moved above its 200-hour moving average (MA).

  • The price is trading inside an ascending channel.

  • Bitcoin has possibly completed the B wave of an A-B-C correction.

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On May 13, the Bitcoin price was finally successful in moving above the $9,150 area that had been providing resistance since the drop on May 10. The Bitcoin price had been increasing since March 11 and moved above the aforementioned MA on its third try. However, volume was almost non-existent during the breakout and has been even lower since. Finally, the RSI has begun to show the first

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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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