Interesting spot where we are right now with Bitcoin
. We have broken the downtrend line but at a very slow pace. Right now as of today were in this nice green triangle as we have a slight uptrend drawn over the previous downtrend. Volume
is killing Bitcoin
right now. It isn't enough for a breakout moment less we see some new fundamental news, positive news that is in the world. Right now either we continue the slow incline up to the 9.1k fib line. If it breaks here, then we may continue to see continued gains. This is possible as the 5 day MVA is positive, MACD
has crossed and RSI
is on a slight rise. All buy signals. Its the volume
again that is key here for any realized gains. For those who buy on the trend, the signals say ok to buy but me I want to see what happens when we hit the 9.1k mark. If it hits and holds, then we may decline once more. If it hits and breaks, continued gains. If it hits and retraces, I think we will hit it again at least one more time in 48 hours, then perhaps our breakout.