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LARP_Capital
Jan 24, 2016 6:52 AM

Started from the bottom (update5) Long

Bitcoin / DollarBitfinex

Description

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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