BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
D1 : After having broke in an intraday basis the Kijun-Sen and reached a low of 44151, BTC recovered nicely, to close @ 46315, above KS .
Global picture remains heavy.
Indeed, despite the rebound seen recently, BTC is still below Mid Bollinger Band which remains a very good "barometer" indicator as you
can see in the past.
Therefore, I still consider current price action as a CORRECTIVE MOVE ONLY... and not as a trend reversal yet.
Only a move above Mid Bollinger Band , currently @ 49644 would force to a view reassessment of the expected bearish scenario with a confirmation
on a breakout of KS (51253) and pivot resistance level @ 51530.
Watch H4 and shorter time frames to detect intermediates validation or invalidation signals.
Have a great weekend.
All the best and may your long goes up and your short goes down...
Technical analyst Expert since 1991. Member of the Swiss Association of Market Technicians (SAMT).