Bitcoins been pushing hot into the 50k+ range and we have taken out some key resistances, its looking like we are loosing a little bit of steam here and there is a chance we see a little retest or cooloff before we continue heading up! We currently are looking to test the 51.4K level and my thoughts are that we definitely need to see a retest on that 0.2 FIB level, if we can successfully pull this off and still remain above here for daily close tonight we are looking very healthy in my opinion! Looking at the bollinger bands we are looking very good we have been touching and slightly riding the top band upwards but have since let off a little bit, but even if we do see a downday today we can always push back up to that top band tomorrow or the following day! We also have the midline from the BB's acting as support and this level usually holds up a bit whether it be support or resistance! Looking at the MACD we indeed got a bullish cross but what im looking for is that confirmation, we want to start to see as much spread as possible in the MA's with the blue remaining on top, we want to see a big separation because it lessens the chance of a near term bearish cross, also the histogram is looking good we are already seeing an increase in our green bars, even though its not a big jump in bars its a start and we could be in for a nice little upcoming cycle! Now the RSI, as you notice we have 2 areas of support, one slightly trending upwards and the other slightly downwards, so we definitely have a chance of catching on of these supports which would be perfect for our cooloff or retest theory, it would be better in my opinion if we breakthrough the first support and catch the second one below, this would give our next run some room to move upwards without becoming overbought like we have recently been seeing, the most important thing for the RSI is that we stay above the 50. midline and iif we do so we will continue in a confirmed uptrend!! NFA just my opinion!
