Bitcoin Daily Chart is still in uptrend. 50 MA tested as support

Bitcoin Daily Chart is still in uptrend. 50 MA tested as support. Price targets are in play. May 13 2018 $BTC $XBTUSD #Bitcoin

The Bitcoin daily chart is still in the uptrend channel. Trading under the mid channel line (green dotted), so it is likely to near the bottom of the uptrending channel (yellow line arrow). But not likely to hit it perfectly as it is in an uptrend. It is likely to continue up prior to trade hitting the bottom of the channel. The opposite is true in down trends.

When price dumped it cradled in the 50 MA and bounced. Before a return to the bottom of the channel (per above paragraph) it is probable that trade will stay bullish in to that target in the 9808.00 region on May 21, this is a decent return considering intra-day trade at 8645.00 today. However, if price is lost to the downside of the 50 MA then a target hit is unlikely.

Those are your probabilities and my personal trading plan specific to the day model.

Price Targets on Daily Chart Model:

Trading 8645.00 intraday;

May 21 Bitcoin Price Targets:

Bearish 5824.00

Moderate 9808.00

Bullish 13821.00

July 4 Bitcoin Price Targets:

Bearish 9808.00

Moderate 13821.00

Bullish 17745.00