Bitcoin Recovers Bullishly

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin closes above trend line and support line for bullish momentum to continue

Bitcoin pulled back 18% and manages to close above the trend line on all days of downward momentum.
Bitcoin has established support level of 17220, previous significant resistance level for the past breakout from last week
Bitcoin consolidated for the past day into a triangle which is now broken to the upside

Bitcoin now showing signs of recovering and testing the channel it has been trading in for the past month
Possible resistance at 18100 level when trying to re-enter the channel but possible drop should not fall bellow 17300ish level
Comment: Level of entry to channel is between *18300 - 18600*


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