Hinterland

Bounce off ascending channel.

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC has finally hit the bottom of the ascending channel (drawn based on logarithmic y axis). After hovering along the channel line it has had a strong bounce upwards. This is a bullish signal; however for a stronger signal, one should wait for a higher higher at above 60k to fully confirm the reversal of the trend. After it fully bounces, I expect BTC to complete wave 5 on the daily timeframe pushing for a new all time high. Current target is 70k

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