Bitcoin had another good week with positive news coming in and price continuing to climb. Whether we are reaching levels too fast is another story. The asset definitely has the momentum it needs to break through some key levels and escape out of the bear trend which is still intact. 

This week we will begin our reflections from a technical perspective and spend the latter part of the piece on the major news of the week. Looking forward to your feedback.

Technical Levels

Another week of upwards movement for Bitcoin. During the week e saw multiple retests of the 13EMA line that we have been following closely. The level acted as key support and we continued to see an upward trend. We are now approaching the 200d Moving Average yet again. This is going to be the second retest of the level.

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