Another surprising move that pushed the price above the 20 days moving average. Furthermore, the hash rate has just reached a new all-time high.
Current support/resistance: $7'000/$8'000
Some analysts and investors warned the Bitcoin holders for a so-called "Miner Capitulation" which corresponds to a crosser-over of a one month and two months simple moving average. This signal triggered late November and was ended Yesterday when the Hash rate reached new all-time high. Last time this indicator signaled the end of a Miner Capitulation was in January 2019, the end of the bear market.
If the bulls can maintain this price, the results may be very promising in the medium term as most of the indicators have now turned green. The 200 days which defines a longer trend, lies currently close to $9'300.
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