Bulls showing strength and Bitcoin close the second daily candle above the 200 MA.

Despite a strong rally to $45k, the Bitcoin market still has not seen a significant increase in old coins (> 1y) being spent.

This is very different to the 2018 bear market where old hands took exit liquidity on most relief rallies.

Bulls showing strength and Bitcoin close the second daily candle above the 200 MA. Bitcoin is bullish as long as it trading above the 200 daily MA. BTC is facing a lot of resistance in $46,500-$47,000 area. If BTC break below the 200 MA then the next support level is $42,00-$42,500 area. We may see a small correction here before going towards the major resistance area of $48,000-$50,000. As expected BTC is now experiencing a small correction. BTC need to hold above $45,000 otherwise we see more dump.