dbt1033
Long

Started from the bottom (update5)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
107 0 2
Bear trap followed by sideways consolidation. Notice how the oscillations on AO are converging towards 0. KDJ does not dictate overbought or oversold, and the J line (% divergence between K and D) has almost flat lined. Lead 1 and lead 2 have crossed again in a bullish fashion and the price is holding stable above the cloud.

It seems as if the consolidation phase is nearly complete. Price should rise soon.

Key resistance levels dictated by fib speed resistance fan are 397, 407, and 420.

As of yet, no indication of a bearish downturn has presented itself.
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