Bitcoin has been trapped inside a trading range of $33,000 - $44,500 for the last 75 days. As of 4:45 PM EDT, Bitcoin is trading at approximately $44,000. Around four hours ago, it touched upon the key resistance level at around $44,500, an area that has stifled the movement of the past two rallies. Can the third time be the charm?

We are recommending that traders enter a long position in BTC which as of 6:16 Eastern Daylight Time is trading around $43,000 on the spot markets. Place Protective stops at $42,600.

The technical indicators we used, prompting us to issue a buy signal yesterday, remain bullish today. Today I want to recap what they were and where they point Bitcoin may be headed.

Bitcoin is showing signs that a rally is imminent, at least in the short term. Entering a long position from $40,700 - $41,000 is advised. We base this sentiment on Bitcoin’s successful bounce off of the short-term 38% Fibonacci retracement level, which coincides with the 50-day moving average.

Many of my articles over the years attempt to outline the cyclical nature of Bitcoin’s price action.

BTC traded higher today currently as of 4:00 PM, EDT is trading at $40,820 according to Coinbase. On the heels of the Federal Reserve’s monthly FOMC meeting and Bitcoin is appearing to have entered a short-term rally, with prices quickly approaching the highs of the day at $41,730. It seems the Fed’s seemingly more hawkish tone is giving a boost to Bitcoin.

One would think that the EU has more important things to worry about with Russian fighter jets bombing a military base just 20 kilometers from Poland, a country that is part of their coalition.

With a lot of talk surrounding the libertarian rights of everyday Russians and their access to cryptocurrency exchanges, I think this is an appropriate time to highlight the distinctions between a decentralized digital currency and a centralized one.

Bitcoin is trading sharply higher over the past 24 hours and as of 5:00 PM EST, is changing hands at around $42,200. There are several fundamental reasons for this recent surge including President Biden’s executive order, and the compromise between Russia and Ukraine leading to a rally in the stock market.

At the time of writing BTC is trading at $37,222 after breaking through support at $37,500 representing the 78% retracement. The retracement uses a data set that stretches from the bottom at $28,000 up to the ATH at $69,000.