I must admit I was not expecting a short squeeze at this point in time when I first published my idea yesterday, the timing from the bulls was perfect though. Strike when no one expects it. Now let's see if they can follow through with their plan. I am not convinced about this move before we make a clear break of the major down-trendline that has been in place since december. My analysis from yesterday is still valid - the bear flag
is still intact!
Levels to watch are 7500s for bears, and above 8k for bulls. I believe there is a possibility to go higher since we seem to be forming a bullflag on the lower timeframes. The test of the trendline
will be interesting.
P.S - I see a some people claiming we have broken the downtrend line already. I suggest they turn on log :)
P.PS - Sorry about the indicators, they weren't supposed to be included BITFINEX:BTCUSD