Current take on Bitcoin
Updated
I don't want to go everything I said in my last chart but if you want a more in-depth explanation check it out. The MACD has had a bullish crossover that should continue for some time. The RSI is indicating oversold but we should consolidate just on the downward trend line for a few days to fix that. Last time that Bitcoin made it above the downward trend line it rested there for a few days as well. This is a good thing as Bitcoin is forming this as a strong support line. We are about midway on the Bollinger bands which is where we should sit while bitcoin has a lite consolidation on the downward trend line. Once bitcoin has finished consolidation this time it has a bullish inverse head and shoulders patten to give it a good push to the $14,000 area before its next consolidation.
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