BTC Bullish – Daily closes analysis

BTC Bullish – Daily closes analysis

Bitcoin / Dollar BITFINEX:BTCUSD

What a day!

Bullish all around!

Now we need to get above and bounce on the 150 EMA to challenge the upper trendline .

The orange bar represents resistance from the 150EMA and 1.414 Fib extension (very common support/resistance )

The horizontal blue lines represent support and resistance based on actual price action, so should not be ignored.

Summary, a bullish day! I expected to see a sell-off during the final hours of the day, but the bears were nowhere to be seen!

I have nearly filled all of my criteria to call trend reversal, but be aware!

We have been in this position before:

We have broken the upper trendline , gained 8% and looked bullish for 40 hours and then dropped 40% to the lower trend line .

Now is not the time for complacency!

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