Is Bitcoin out of the woods?! - Daily Bitcoin Screening: $8,207 (4hr chart)

in #teamcrypto7 years ago (edited)

#Bitcoin has had strong rally after having immense volume yesterday! We broke through our previous bullish #support trend line and our approx. $7,500 horizontal #resistance (blue), and we are making our way towards some very important areas. What I want to see is #BTC break out (blue arrow) of our bearish trading range (green). We will need to break through our next level previous bullish support trend line and our approx. $8,500 horizontal resistance (red). Hopefully we can maintain this soft trend line (yellow) all the way out. #RSI and #MACD on the 4hr look promising! We shall see! Screen Shot 2018-02-07 at 8.27.04 AM.png

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Charts looks pretty promising, trend lines look good!

Doesn't that blue arrow make you feel all warm and fuzzy on the inside!