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BTCUSD - Chart Update | #BTCUSD #BTC #USD #Bitcoin #Litecoin

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
157 0 1
BTCUSD             - Chart Update | #BTCUSD #BTC #USD #Bitcoin #Litecoin


Friends,

A little chart update as longs are getting the jitter, and market makers are accumulating in the background.

Our prop pattern ("Great White") is now underway, with 884.75 as a low tolerable target before dialing our directional bias to neutral. To be clear, at this point, BTCUSD             remains a bullish play.

Traders, pay particular attention to volume spikes associated with bullish pinbars, which is often a discreet indication of accumulation in the direction of the pinbar (i.e.: a bullish pinbar points up, and a volume spike associated with this candle morphology points in the direction of market intention)


OVERALL:
If and once the tides turn against our current bullish directional bias, we will provide additional (educational) technical comments on this player, but for now, it remains a bullish player. The timeframe in consideration indicates continued accumulation. Above targets will be modified once structures are taken down. But a rally will need to occur prior to this bullish commitment.

Cheers,


David Alcindor | 4xQuad.com
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