BitcoinAs we updated you in our previous post if bitcoin can clear the $39,400 zone with the good volume we will see an upside movement in Bitcoin price and the same thing happened. Bitcoin Rose by 8% and also break the 41,200 resistance area.
If bitcoin can hold above the 41,200 area then we will have more upward movement in bitcoin price.
The next local resistance area is $42,800 and 43,500 area. The major resistance is $44,500 to $46,000 area. If bitcoin breaks the $46,000 area with good volume and hold above it then the market will turn bullish
Biden to sign an executive order on regulating, issuing cryptocurrency might be the reason for the Bitcoin pump. Also, tomorrow on the 10th of March FED releases inflation Data.
