It’s tough to chase an 8% move but the bitcoin chart is a good looking one.
There are a series of higher lows and consolidation since January. Now it’s broken a double top and doesn’t have much in the way of resistance up to $52,000, which is another 10% higher.
Bitcoin has a history of making long, one-way runs. It’s held up in the recent round of USD strength and it’s undoubtedly attracting attention in Russia as a way to avoid sanctions.
This article was originally published by Forexlive.com. Read the original article here.