Bitcoin ready to pop, but which direction?

Bitcoin has been in a relatively stable range with a midpoint of $570.

Within past few hours we’ve printed $597. A move of ~5% is not a big deal on the Bitcoin volatility scale but is this the start of an upside move, a bull trap or just a blip? Bitcoiners are watching closely.

Overall Bitcoin has been in an uptrend in 2016. Bitcoin just printed a 3 box reversal on the 6H PNF chart. Levels to watch are $615 and $650. On the downside $560 and $530.

Sundays are sometimes big trading days for Bitcoin (driven by Chinese?).

I am grabbing some popcorn and hoping for a good show.

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About coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

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