A Move Above $8,500 Resistance Would Provide Confirmation Bitcoin's Bear Market Has Ended

April 16, 2018

 

Over the weekend, Bitcoin (BTC) clocked a three-week high of $8,458 on Bitfinex, adding credence to the short-term bull reversal confirmed last Thursday. Furthermore, the 30% rally from the low on April 1st of $6,425 proved that the much-feared "death cross" indicator was in fact a bear trap. A move above resistance at $8,500 would provide confirmation bitcoin's bear market has ended, the technical charts indicate.

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