After a few days of sideways trading, it seems that the Bitcoin bulls jumped and pushed BTC back towards $ 12,000. Bitcoin’s current price is above $ 11,650 with positive momentum. According to popular analyst Erie Maxwell, the leading cryptocurrency on the daily chart is not facing much resistance up to $ 12,123. But according to the analyst, of course, the $ 12,000 psychological level will always act as a strong point of resistance. Also, the Winklevoss Brothers are on the rise in Bitcoin and thinks this week will be really positive for Bitcoin.
Tyler Winklevoss: This week will be a big week for Bitcoin!
Bitcoin billionaire Tyler Winklevoss is on the rise in Bitcoin and believes this week will be important for Bitcoin. Tyler Winklevoss made the following statement on the subject from his official Twitter account:
BITCOIN BULLS RETURN AT THE CROSSING CEREMONY. THERE IS A LOT OF ENERGY IN THE MARKET, AS IT WILL BE A BIG WEEK THIS WEEK!
Let’s check the 4-hour chart to see if the momentum of Bitcoin has shifted towards the bulls. BTC was trading between $ 11,000 and $ 11,500 over the past two days. According to Erie Maxwell, the most important resistance level was set at $ 11,473, a level that tended to rise again by the bulls on the 4-hour chart.
According to the analyst, the 12-EMA and 26-EMA were on the verge of a Bear Cross, but the final break stopped them. According to Erie Maxwell, while the RSI is not yet in the overbought territory, the MACD is again on the rise. The next level of resistance is $ 12k and $ 12,123, according to the analyst. According to Erie Maxwell, the last two candlesticks created by the bulls are increasing their trade volume.
Erie Maxwell outlines the levels Bitcoin will see
According to the analyst, the weekly chart is also in a strong uptrend. Also, according to Erie Maxwell, the bulls are looking at $ 12,330 and $ 14,000 as the next two most important resistance points. If they manage to go above $ 14,000, the bulls will set the highest level in two years for Bitcoin, according to the analyst.
Most importantly, according to Erie Maxwell, the bulls confirmed a monthly chart balance pattern after creating a new low at $ 3,782 in March 2020. According to the analyst, a break at $ 13,970 will likely be accompanied by a major move towards $ 20,000.