This is an update of last week's channel analysis. I've found it usually useful to return to a previous technical analysis and see if it's confirmed or denied before I move forward with a new approach. Just one more "trick" in the black darkness of TA. :)
We've spent the last week moving upwards in BTC/USD, and $10k is a big deal. I am not trusting this, however, unless/until there is a break/close above the upper trend channel. We did break the small intermediate channel, so there is hope.
Fundamentally, I suspect the movement upward has more to do w/ BTC/LTC, and the massive upswing, thank you Litecoin!. My pessimism for the short term continues, leading to indecision on my part.
We've spent the last week moving upwards in BTC/USD, and $10k is a big deal. I am not trusting this, however, unless/until there is a break/close above the upper trend channel. We did break the small intermediate channel, so there is hope.
Fundamentally, I suspect the movement upward has more to do w/ BTC/LTC, and the massive upswing, thank you Litecoin!. My pessimism for the short term continues, leading to indecision on my part.