jawpilot23

4h / bullish falling wedge, bullish RSI div, bullish flat kumo

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Daily kijun seems to have held for now and we have a fair few bullish indicators forming on the four hour.

1/ key 0.382 fib level is acting as support for the moment and should the price break through and confirm it may be a pivot .

2/ bullish falling wedge developing, also visible on daily

3/ flat kumo usually = magnet

4/ bullish divergance on RSI (price lower low, oscillator higher low)

5/ volume breaking up through trendline from past few days; volume precedes price

Will be watching for a break up through the top of the falling wedge to around $14,000. Once a couple of candles have closed above the wedge I would expect to next test the 0.5 fib if not $15,000+ as the flat kumo would suggest. If it breaks down through 0.382 fib support next stop is $11,000 maybe $9,000.
Comment: Broke up to $14,000. Waiting for candle confirmation close.
Comment: Failed to confirm. Still ranging for now.
Looks like it is confirmed now.
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jawpilot23 WayneMunro
@WayneMunro, Yup!
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