Crypto News | Bitcoin remains in a strong bullish rally according to history
Bitcoin has been under consolidation for the past week after a massive rally to its new all-time high of $64,829. The digital asset continues trading above two robust support levels on the weekly chart.
Bitcoin price will most likely continue trending higher
One of the most significant indicators of the previous bull rally was the 12-EMA and the 26-EMA levels on the weekly chart. Throughout the three-year bull rally, these two EMAs were significant support levels from which Bitcoin price rebounded several times.
The 12-EMA was lost several times, however, the 26-EMA held until the end of the run at the beginning of 2018.
BTC/USD weekly chart
