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tspj2000

Bitcoin: Bounce on the 100d MA

Long
Bitcoin (BITFINEX:BTCUSD)  
tspj2000 Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators 100dma bounce
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trendanalysis chartpattern indicator 100dma bounce
We bounced on the 100d MA. That is a good sign for bitcoin, currently we are trying to break 54k. If we break this we are back in bull territory on the daily timeframe. Bearish scenario is that we can't hold 53k then it is possible we drop back again to 46k.
Comment:
Broke resistance @54k. We are back in bullish territory and consolidating. It also looks like we have broken out of an inverse head-and-shoulders or a bump-and-run reversal pattern wich are also both bullish.

Currently we are trying to break resistance @58K wich is a important level to breach if we want to celebrate for new ATH's again.
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