ItisCalvin
Long

Bull Trend CONFIRMED

BITSTAMP:BTCUSD   Bitcoin / Dollar
So we broke away much quicker than I had expected. Seems like 9H is the magic number before things break away.

Let's talk about the bull trend. At first it had not been confirmed so it was speculation on whether it would do the trend or just go back down. Now that it is confirmed we can take it more seriously. This pattern reminded me of what $VCLT was doing by staying in the upper DC channel for some time.

What I think will happen is that we'll stay inside this trend channel for now. I am curious if it will take two days + 9H of sideways moves before a breakout. Likely not since it would push up against the trend at that point.

It was interesting to see how the indicators ( PFE StochRSI, and Ultimate Oscillator ) peaked during the time of the breakouts. Keeping an eye out for any more of those.

If you want more you can visit my blog: http://www.allbitcointa.cu.cc/2014/05/bull-trend-has-started.html
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