Bitcoin (BTC): June 29 2015

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Bitcoin had a spectacular day today as the current bull trend pulled the MACD line above zero and inside the hollow green bars (above). The last 2 times this happened was June 2014 at the top of the move, and August 2013 at what would later be deemed the start of a substantial bull market. The current wave structure looks mush more like 2013 than 2014, but a lot has to happen before 688, 744, +1000 can even cross peoples minds.

 

Just like it was crucial for the 1D to drag the 3D up, the 3D must now drag the 1W chart up and thus fully engage a bull market. Price has been popping over resistance, pulling back, and then stepping up again (below). The final resistance has been pierced today and the 3D candle closes in less than 24hrs. It is possible the pattern will repeat. This would be good as it give indicators time to catch up for another push higher.

 

 

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