Despite the fact that there are no data on BTC purchase by institutional investors, BTC is getting more popular as an investment asset.
The support rests at 46773.20 with resistance at 49619.60 which both lines are below the weekly pivot point at 49907.20. The EMA of 10 is moving with bullish bias in the long term ascendant channel and it is located above the EMA of 200 and below the EMA of 100. The RSI is moving above level 50, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing buy signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
BTCUSD is on bullish trend targeting 50000.