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Congrats friends on the new bullish bitcoin usd move, looking forward for better trade action.
Bitcoin is currently in a pullback.I t has broken out of the 20-day E M A for the first time since N o v. 14. This shows buying by the aggressive bulls and short covering.
Wednesday is the third day of the pullback. Usually, during a strong downtrend the throwback rally fizzles out within three days.
An update on the April fractal . Still seeing some similarities. In april we had a 20% rally from the low, this time a 13% rally. Now the % says we are in the lower yellow circle, meaning we could make another bigger wave up. The shape says we are already in the higher yellow correction phase close to the high. My assumption is still that we have another big wave up after we finish the correctional move up.
But just to be aware of things in which stage we might
Note the 4 hour RSI is getting a bit extended and we are due for 4 hour consolidation today to form another higher low.
We are already shaping up for a high volume day with a long way to go.
I had 1 sell order fill on coinbase $3,789 while sleeping, putting me down to a half position from my original entry. From here I will continue to play the 4 hour uptrend for the rest of the position.
Bears should be patient and wait for at least a loss of the hourly uptrend.
you can also checkout this blog on steemit
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