MtxUK

Blip on the path to $11500?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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On the daily charts there appears to be a trend line that is holding. If this dip was a correction to the trend line we could hit $11,500 around the 22nd May. Next serious resistance could be at around 10,290. Of course there is the main psychological barrier of 10K, which I expect to be past at some point, even if it is strong whale push, or liquidation fuel that gets us there. The path there could be rocky, but it doesn't look as bearish as a lot of people seem to be based on this minor pullback over the weekend.

50MA is heading up towards the 200MA, and we are approaching the support neadr the 0.382 fib line so will hopefully stop dropping.

Of course, I could be totally wrong, I often am :)
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