MoonTrader
Long

New bullish interim rally possible

BITSTAMP:BTCUSD   Bitcoin / Dollar
Bitcoin has now established a strong support area in the $210-230 range with a solid double bottom formation and higher lows, higher highs being formed at the moment, setting up a solid launch pad for a bullish rally. As we can see in the last major bull run, there was a period of tight consolidation followed by a pop up and some more consolidation, which is what we would be looking at here.

The pop could occur very soon and the consolidation appears to be likely somewhere in the upper $300s after which a new trend decision will be made. As it is, the long-term downtrend is now convincingly broken, and higher lows/higher highs are being formed as I previously mentioned. On a daily/midterm time frame, this appears to be the next major move in the bitcoin market.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out