Hello guys, I have been following BITSTAMP:BTCUSD very closely for the past 2 years and I'm very impressed with the pace that this thing is moving. Overall trend is bullish that's why I'm thinking that it will bounce from the trendline and possible hit 22k. I'll keep the post updated to see how it will react to that support.
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It may be forming this bull pennant and if it breaks before we reach the trendline it will open the door for longs.
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I expect a move to 10k and then well see for a buy setup. BUT with the rate that BTCUSD is selling we may be on our way to 5-6K.
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In the 4HR chart the trendline held it's ground. The bulls came strongly when the price dropped below it. BULLISH trend still remains intact.
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The possibilities in BTCUSD. Prepared :)
Trade closed: target reached
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BTCUSD rose 50% since its lows on Monday. Price broke the resistance and it reached First Target at 16,211. Let's see if it breaks the resistance.