#Investors-Group News - Bullish on #Bitcoin at $5,113.93.!!
Bullish on #Bitcoin at $5,113.93 - Here's why!
For those that follow my Blog, it should come as no great surprise that I maintain a Strong Long Term Bullish view on #Bitcoin.
Earlier on, I was looking at some Long Term Daily Moving Average Data and I thought I would share the data with you.
Current Price of Bitcoin = $5,113.93
Currently, #Bitcoin is priced at $5,113.93.
When you drill down on the Long Term Daily Moving Averages, you will see why I am bullish on #Bitcoin more so now than ever before.!!
#1000dMA vs #1400dMA
In order to take a Long Term View on the trend that has formed in #Bitcoin since triggering the #dMAmapping alert on 11th December 2015, you have to take longer Moving Averages on the daily charts.
In this instance, I have pulled them right back to the #1000dMA and #1400dMA respectively.
Currently, these stand at....
#1000dMA = $4,750.52
#1400dMA = $3,504.11
...and are both trending to the upside.
At at Current Price of $5,113.93 this is also sat comfortably above the two.
Key
Zooming in
By zooming in on the chart, you will see how the Current Price sits in relation to the #1000dMA = $4,750.52 and #1400dMA = $3,504.11 Moving Averages.
Conclusion
With a Long Term Chart set up like this, I am bullish on #Bitcoin more so now than ever before.!!
Target Price remains at +$1,000,000
Once again, for those that have followed my work, it should come as no great shock that I am sticking firmly to my Target Price for #Bitcoin at a Minimum of +$1,000,000..!!
Thanks again for reading.
Stephen