Bitcoin – Breakout In Progress (Cryptocurrency:BTC-USD)

After a great start into 2020, bitcoin (BTC-USD) crashed together with all other markets during the coronavirus panic. Now bitcoin has fully recovered from these dark moments in mid-March and on Friday crossed the $10,000 level once again. While central bankers around the world are quantitatively easing their fiat Ponzi schemes, bitcoin will experience its third quantitative hardening in just a few days….

Review

In my last Bitcoin (BTC-USD) analysis, at a price around $6,700, I expected the recovery to continue until around $8,000. Indeed, this is what happened. However, for several weeks prices were just slowly creeping higher. Only once the downtrend line at $7,150 was crossed the bitcoin market finally began to move on 23rd of April. Since then, the bullish forces have clearly asserted themselves and most recently drove bitcoin to its highest level at $10,025 since mid of February. Bitcoin has thus made up for all the losses from the crash in mid-March and presents itself very…