Update - Bullish, But Stuck In The Mud? | #BTCUSD #BTC #Bitcoin

BTCE:BTCUSD   Bitcoin / U.S. Dollar
425 3
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.

Bullish with significant overhead resistance. Targets remain in sight and in force for the time being.


David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting
Denver, Colorado USA


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@Buyonpurple strong days of buying=the china's deadline and a day before and after it.
Been trading this 770 - 790 channel since we arrived attempting to recoup my losses from bad trades on the previous downward movement. The brief tense moments where we break the surface for air above 800 are all the indication I need to know to hold a bullish bias throughout this consolidation. I see some strong days of buying ahead after we finish our shakeout.
went long at 790. Hope what you mentioned isn't the case!
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