Bitcoin hit $44840 on bitstamp on sunday morning , just shy of $45000 . bitcoin has managed to close above $42500 for two consecutive days which shows strength . Bitcoin faces resistance at 200 day simple moving average which is currently placed at $44909 , from where it may face severe resistance .
Any successive close above $45000will straight away target $50000 easily .Bitcoin currently trades at eleven week highs . Immediate supports are at $ 42000 .Another major resistance is at 20 week moving average which is at placed at $ 43845 , while bitcoin currently trades at $44250
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Bitcoin may slip from current levels but any dip will be bought back as of now.
