Bitcoin Pullback Done? Next Push Up To Break $12K?!?

The other day we watched Bitcoin drop dramatically but it has tested well against sell pressure and remained above $10K! This is great news for Bitcoin but there are still some bearish signs to watch out for before we can start planning the next big bull run!

We observed a moving average cross of the 10 and 20 day marks as well as the 10 and 30 day only a week ago. This was a bearish signal but we held strong. We have been waiting on what seems now to be a certainty, that there will be a 10 and 50 day moving average cross... quite possibly tomorrow.

The moving average gap (10 and 50 day) is now at a mere $84 USD. A cross of these two will be another bearish signal, but what happens after that is VERY important!

Here's why... 🤫

If Bitcoin already had it's pullback (the last few days drop) then after a 10 and 50 day cross it COULD just cross again within a few days. Bitcoin has done this before and when it does it usually signals a strong push upward. If this happens we will expect this to be the push to test $12K!

So, while it's "cheap" this is the time to buy if you are long on BTC! 😉

Keep watching the charts! 📈

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Please note : this is opinion and should not be taken as financial advice.