Whilst its true that BTC/USD has confidently broken the resistance at 3670, we have not yet seen a close above the recent high of 4046 which took place on the 20th December. Many people are excited that we have moved above the 50 Day Moving Average but I wouldn't get too excited yet.
If we see BTC move above 4020 in the coming days, the price is likely to move up 2% to 4110 - in the short term (see image annotation). To see higher prices in the medium to long term we must see Bitcoin close above 4290 sooner rather than later.
Have a good weekend Steem...
