peakindicator
Long

BITCOIN SHOWING SIGNS OF A SUSTAINED UPTREND

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Here we are same as one month ago with BTC floating around 6400. Some would argue we have been in an 11 month downtrend, but if you look closely we see sustained growth with a new uptrend beginning. We have strength building in the RSI much like August but much more rapidly. We still need VOLUME and we can surely to continue to go sideways for a while before we see any sudden moves up. I do believe we have found solid footing here in the 6200 - 6400 range and it’s just a matter of time until we get back to the 7200 area. On our 4 hour chart, our MACD is flat as a pancake which also usually signifies a move. I think if the RSI continues to our top target circle this will be a nice move up. I predict to see some movement anywhere from mid-November to early December. Extra credit if the price goes through the smiley face. Pls leave a like if you agree!