Cryptotoad_

BTC: Weekly close approaching

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi all,

How I see the market is as follows:

Weekly close is coming near. A close above the green weekly hor. resistance would be very bullish . close below and imo it's a clear rejection with lower targets possible.

From a bullish perspective PA is above the weekly middle BB and hasn't touched the top BB yet. This target coincides with the white TL and an important weekly hor. resistance.

From a bearish perspective The lower target would be a retest of the middle BB overlapping the W21 and W55 EMA including an important weekly hor support.

So for now waiting to see how the weekly will close. I'm still leaning towards the bullish side. Mainly because on the lower TFs the ascending triangle is still intact.

Check out more updates of mine on twitter

cheers

Cryptotoad