Bitcoin price continued surging through the early hours of Sunday morning, making new highs for 2019, up 1.9% at $4190. As we head into the weekly close we look at the price action and what may lie ahead.
Looking at the weekly chart at the time of writing, Bitcoin price 00 has cleared important technical levels of $4040 and $4106, which are the highest weekly closes since the fall from $6k.
A close above $4100 would be significant as it would mean that BTC price has printed a higher weekly low and a higher weekly high, which would indicate a change in market structure and might imply a move higher would be in the works.
The Mac-D has also crossed bullish and is printing higher highs on the histogram, showing that momentum favors the bulls.
The 200-week moving average which has twice acted as support, continues to rise…