- BTC price broke its current EMA resistance
- Can Bitcoin price pump after breaking the EMA resistance?
A crypto analyst said that the last time Bitcoin broke this EMA resistance, the price pumped over 700%. Let’s note that Bitcoin dropped to downside pressure over the last weeks with a grueling sell-off that saw it drop to as low as $30,000.
The move to the downside was triggered by Elon Musk’s tweets and the China Bitcoin mining ban. As a result, the bitcoin price has lost more than 30%, dragging down the entire crypto market.
Although Bitcoin was facing some resistance, it returned above the 100-day moving average the last days. However, BTC broke above first resistance at $36,000 after a near 13% rise on Wednesday. Also, last night, it broke the second resistance at $40,000.
More so, this triggered some crypto a...
This article was first published on coinquora.com