I am taking a look at the 24 hour chart this evening and I am really liking what I am seeing right now. We have really seen some bullish
moves and I was really excited to see the life in the market. If you were a bull you should of had a good day. All day today I didnt even attempt to open a 1 day chart and I wish I had. I am still excited that we made a higher high but I also have my eyes on the daily 200 MA. We have failed to get above it. The daily closes in less than 1 hour and unless we close above it I cant really say we keep going up. That 200 MA is pretty strong. I know that Bitcoin
could shatter that 200 MA if some volume
shows its face. Im also watching the bolinger bands tighten up. When they get tight volatility
is not far behind and when its on the daily its more significant than a smaller time frame. Anyways It was exciting to see the life in the market and see people excited after a big drop
from 10k. But that pesky 200 MA just scares me. That is the next obstacle. We created the higher high but we need to close above 8675 and continue upwards to really turn this chart around. If we can make it above that 200 MA we are not necessarily out of the woods. We still need to break 9300 - 9400. It held for ages and it may prove to be tough resistance. Just something you should keep an eye on as other traders will likely set sells there to trip on the way up because they realize that was support for so long and when support fails it becomes resistance. Daily volume
today shot right up with the price and is currently at $19,225,123,401 which is an impressive rise and one of the highest 24 hour volumes recorded in a long time for me. Its easy to look at the smaller time frames and be excited but I am simply walking up my stop loss as the price rises trying to milk this pump for what it is worth. If you want to play these candles I suggest you do the same. But WTFDIK?