Update - Bullish, But Stuck In The Mud? | #BTCUSD #BTC #Bitcoin
A quick Tech-Note here to offer a little insight on the strength of the current move.
After a protracted consolidation, the bulls have had to hoist their ways out of the bear cave. While it appears that the have done this successful in price action, our filter is revealing otherwise.
Watch for series of fake-outs to the upper side, as insitutional traders might attempt to shake weak-hands during a significant, but short-lived decline. If this paranoia-filled scenario does not materialized, then be pleasantly surprised.
Structurally, 791.99 imposes a significant hurdle for now, and attempts at stabbing through that fence will require more than a retail-side stampeding. 770.00 defines the lower level of noise tolerance, below which, bears might rekindle back from their slumber.
OVERALL:
Bullish with significant overhead resistance. Targets remain in sight and in force for the time being.
Cheers,
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado USA
---------------------------------
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See our recent successful forecasts:
1 - #USDollar: on.fb.me/19Pf77y
2 - #AUDUSD: on.fb.me/1kDHbdB
3 - #NGAS: on.fb.me/1aSMYHV
---------------------------------
Disclaimer: All of our analyses are for educational purpose only. The forecasts, analysis and opinions generated herein are not trading recommendations. Want to trade? Then, do your own due diligence first, seek professional advice and enter the market at your own perils - 4xQuad, LLC.
After a protracted consolidation, the bulls have had to hoist their ways out of the bear cave. While it appears that the have done this successful in price action, our filter is revealing otherwise.
Watch for series of fake-outs to the upper side, as insitutional traders might attempt to shake weak-hands during a significant, but short-lived decline. If this paranoia-filled scenario does not materialized, then be pleasantly surprised.
Structurally, 791.99 imposes a significant hurdle for now, and attempts at stabbing through that fence will require more than a retail-side stampeding. 770.00 defines the lower level of noise tolerance, below which, bears might rekindle back from their slumber.
OVERALL:
Bullish with significant overhead resistance. Targets remain in sight and in force for the time being.
Cheers,
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado USA
---------------------------------
Want more forecasts and cool charts? Join us on TradingView.com: 4xForecaster
Want signals? Follow us on Twitter: @4xForecaster
Our Dead-On Hits Archive: bit.ly/16JMnH8
Like Us! on Facebook: www.4xQuad.com
See our recent successful forecasts:
1 - #USDollar: on.fb.me/19Pf77y
2 - #AUDUSD: on.fb.me/1kDHbdB
3 - #NGAS: on.fb.me/1aSMYHV
---------------------------------
Disclaimer: All of our analyses are for educational purpose only. The forecasts, analysis and opinions generated herein are not trading recommendations. Want to trade? Then, do your own due diligence first, seek professional advice and enter the market at your own perils - 4xQuad, LLC.