BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We see buyers come into the market after bottoming out yesterday at 7960 and closing the day with a bullish hammer . I predicted a green day today based on the action towards yesterdays close and hammer candle. We are forming a bullish falling wedge pattern and the only real question is whether the bottom is in at 7960 and we see a breakout on the next test of the upper trendline , which should be tested in the next 1-4 days (wide range on time here as we all know btc can move thousands in a day). The test may come at a critical region around 10400 which acted as support and resistance in the past few weeks. If a breakout attempt fails we could see 7500-7750 as it tests the lower trendline of the wedge . If this happens I think it will definately break upwards violently and rek many bears who get trapped into thinking a new low is "the end of crypto".
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