InvestingScope

BTCUSD: Strong bullish channel on 1D. Key fractal.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin keeps trading within its 1D Channel Up ( RSI = 55.512, MACD = 39.400, Highs/Lows = 0.000 ) with every pull back presenting a buy opportunity. The price rebounded yesterday after a Higher Low inside the channel and since BTC doesn't trade for long on the lower tier (below the median), we expect it to rise above 4,100 and settle to a trading action above the middle line.

In fact it may repeat a similar Inverse Head and Shoulders fractal (presented in blue). The short term Target set is 4,146.50 and 4,260 in extension.



As we pointed out on the study below, this price action on 1D is the most sustainable bullish sequence since BTC's all time highs:








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