Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
STT
on 25/05/2017, 16:57:20 UTC
This is a more significant break of trend for the second half of this month, the aggressive rise.   50% retracement is about the price here at 2380 and also that matches some highs and lows.  Its hard to judge whether it will pass that or use it as a base because we have come so far so fast.   I think mark 2470 as a ceiling now for a measure of strength, if we can climb past that and confirm I think its arrested the downside otherwise keep looking for more confirmation which will take some time.   
I have a slower uptrend line drawn there from previous observations and retaining that level is still especially bullish price action.  I agree with previous comments, some selling is needed to be really confident of the rises overall, its healthy