DrDovetail

BTC maintainin bullishness; golden cross now on track for 4/11

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I appears that the stoch rsi is finding excellent support on the strong ascending 3 year old trendline keeping momentum bullish for now and has helped to increase the northern trajectory of the 1 day 50ma(in orange) to where we currently have a golden cross on track for as early as April 11th. Of course any significant selling from now until then will likely push that expected cross date back but price action currently appears to be in a bit of and ascending triangle / bull pennant on the one day chart...so if we were to break up from that price action within the next day or 2 we could expect a golden cross even sooner. So as of now things still look quite bullish all around...the only reason to even consider a downward move that invalidates the goldencross and instead results in a fakeout is that because everything looks so obviously bullish that the exact opposite could happen to trick a majority of traders. However beyond that, everything else seems to be indicating probability is currently favoring the bulls. So while I'm prepared for either outcome my bias leans bullish . If we are to break upward from the current flag set up the next consolidation or correction zone is right around 6k but ultimately I still believe we will get pretty close to the big wedge breakout target of 7229 maybe even as high as the resistance at 7.4k if enough fomo kicks in before any sort of significant correction happens.

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