What do we see on Bitcoin charts?
- 1 Week candles --> Positive, bouncing nicely from the important support, indicating we'll be good for the next week.
- 1 Day candles --> around the 30 level, slowly moving up, on a rock bottom, making a positive cross currently, which is also a good sign.
- 4 Hour candles --> holding the green pretty nicely, turned positive, which is great as well. Will be facing the big dark red resistance line soon and it will face the 200 line.
What do we expect from Bitcoin?
I don't think we're done yet and I don't think we'll be able to break the big resistance immediately. Expecting it to fall down to the green back again before we'll face the big resistance and posisbly break it. See the arrows for possible scenario's.
I'm not expecting it to fall out of the log pattern, given that it's a pretty big support and given the fact that some big months are coming for Bitcoin , which shouldn't give the interpretation that it's .
Also, be aware. In the sense that we'll break the big resistance, alts will bleed for a bit as it could make a significant jump.