Fidel_Cashflow

BTC/USD Analysis

BITSTAMP:BTCUSD   Bitcoin
BTC has broken the longterm downtrend channel, but is not out of the water yet. The red dotted line is the previous high from 3-21, and until that high is broken, BTC will remain in a down trend. BTC is also consolidating in a rising flag pattern. With the ETH and LTC pump I would expect to see a BTC pump as well. If a breakout occurs, it could be the start of a macro uptrend, which I will happily buy into. Until then, I'm waiting for confirmation of a breakout, in which case I will go long, or breakdown.
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