Pansyfaust
Long

Simple TA on the Weekly Bitcoin outcome

BITFINEX:BTCUSD   Bitcoin / Dollar
To me the outlook is bullish on the weekly. We have been hanging around the 390 zone for a while, which acted as large support zone back in 2014, with multiple tests of support and eventual breakdown.

We've broken out this zone on the weekly, with a new candle tomorrow, which if it closes nice a solid, should mean we have a nice launch pad for $550-600 as the next "big short". I also think the lagging line poking above the Bearish Senkou Kumo cloud, which feeds into my bullish outlook.

After that I feel the 550-600 zone can be a good short, but if momentum has picked up, we might get to 700.
Near 700 :)
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Seems we're still on the way up :)
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if we get an overshoot blowoff top...then taking out 685 could happen. i'm thinking 700 is very possible before pullback.
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Pansyfaust PRO coinwatcher
It really does depend on the next weekly candle. We closed well above the 390 this week, and if we only retrace $20 from a $60 candle, then I'm still quite hopeful. It will really just depend on the next weekly candle for confirmation that we'll stay above $440-450. Breaking down below 410 would make me jittery for more up.
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