Bitcoin (BTC) Aims for Major Resistance After Cruising Above $50,000

Valdrin Tahiri
1 min read
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BeInCrypto –

Bitcoin (BTC) resumed its ascent on Oct 3, clearing the final resistance level prior to the Sept 7 highs. While there is some short-term weakness developing, BTC is expected to eventually move above the aforementioned highs.

Bitcoin increased considerably on Oct 5, creating a large bullish candlestick.

The candlestick was important since it took the price above the Supertrend resistance line (red icon). The Supertrend is an indicator created by using the absolute high and low prices on a given day and serves as a gauge for the direction of the trend. Now, it has finally turned bullish (green circle), after being bearish since Sept 7.

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