Bear trend line broken.
Bullish MACD, RSI launching off 50.
$5000 big psychological area
Resistance expected at $5500. This is where large volume came in during the breakdown from the long descending triangle in November.
Next we have about a $100 range above/below $6000 from major resistance(previous support). $5900-$6100
After that it's looking like resistance...
We appear to be less than a week away from seeing what the next few months may hodl for BTC.
Many bullish signs show the upside is potentially stronger but this is BTC, keep your wits about you.
Sidenote, Ver is gobbling up BCH yet again trying to save his sinking ship. As soon as that titanic cracks in half, I see a lot of that money flooding BTC. If the flood...
1D view of my pitchfork/supp/res level 60min analysis.
This better shows that sweet short potential if we break down out of the fork. In that case, target $150, full on market panic selling = target $146 or a lot worse.
Again, MACD trending towards positive.
RSI bounce off 30.
Stoch RSI turn around potential.
$154 could be a magical support level,...
60 minute Modified Schiff pitchfork that I've been following.
The pitchfork in conjunction with some estimated support and resistance levels (brown dotted lines) has been working pretty well lately.
Primarily using the 3 and 15 minute chart to intraday trade this pattern. 60 minute for swing trades.
Today's Fed news brought us to the lower boundary and then...
BTC flirting with bear trend line(yellow).
Need to break and hold 200 SMA (dark blue), and then further break major resistance point @ $7500 (brown) for me to believe the bulls are starting to win.
If it fails to break and hold yellow trend, another test of support at the bottom of the giant triangle (bottom brown lines).