BTCUSD - THE END- WHAT'S NEXT? 14-3-2020 - BULLISH FORMATION

BTCUSD

Bitcoin price broekn ATH of 58.5k!!!

Bitcoin has broken the ascending channel, currently 4 hours has found the support at previous resistance trend line of ascending channel!

The next target of bitcoin price is around 66.2k 1.5fib area ! The ascending channel breakout also suggesting the same price target!

Reasons to be bullish and further continuation
1) Daily RSI remain above 70, indication a very strong upward price section, heading to 85 RSI level in the coming days
2) 2 days MACD has flip green, indicating a very strong upward momentum
3) Resistance flipped into support - 59.2k - 59.4k level
4) Above all important moving average on daily TF

Price can retrace to 59.2k level, if daily holds above 58.5k - 59.2k level, very high chance we are heading to 64.3k - 66.2k area. The final target can be at 0.618 fib level at 68k.

Current price : USD 59668

Price section looking very bullish for bitcoin