Bitcoin Daily Dose 3/15/19
BTC has finally broken upwards with a 5% pump since yesterday. I recently spoke about how I am more long than short in terms because of the reasons I had listed yesterday. No long or short squeeze, VPVR matches, and Wyckoff re-accumulation phase. My original hypothesis was that we would hit $4100 and retrace. The current price is $4100 and we are trying to validate this upward movement. Momentum is still good as MACD has crossed upwards even on the daily timeframe which is huge but 4HR RSI is in overbought territory. I do expect some retracement but it is unclear especially after such a volatile move where the retracement is going to be. If confluence is telling, the most likely retracement level would be a re test of $4050.
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