We really need to see the bulls close this daily candle green and above the broken pennant resistance (in red) if we're going to see any continued upwards momentum. This is my first Bitcoin chart since we broke out of the falling wedge pattern, as I suggested was likely to happen a few weeks ago since we broke out of some major resistances I was looking at. Unfortunately though, we have still failed to print a higher high. The fact that the enormous dump from yesterday hasn't had much follow through in terms of price and volume is a good thing, but we need to show continued buying here.
I will flip bearish if we have another impulse downwards and break below the 50EMA.
This is not financial advice. Just for future reference and educational purposes only. This is my last chart for the day. Just felt like posting a bunch. Will update if anything major changes.
-Victor Cobra