Kedstar

Kedstar

So BITFINEX:BTCUSD blasted through a fib line and 10K without blinking. However, the 200EMA is looking like strong resistance having already been tested twice. RSI is looking over bought and MACD is looking bearish on the 4 hour chart, it's starting to smell like a short term bull trap. It would be healthy to have a retrace here, but how far? 50MA looks like...

Kedstar

After the positive bounce on Tuesday, BTCUSD looks like it's hit it's first strong resistance on the 200 day moving average. 200MA is converging near 8000, if BTCUSD breaches this point then we should see a further bullish move up from here, confirming an uptrend. Failing that we could see a retest of 6k and a ranging pattern until the other side of Chinese...