Bitcoin In Uptrend, Breaks Major Resistance $318 - $400 & Beyond

2 Nov 2015

BTCUSD has broken major resistance of $318, giving a short-term uptrend confirmation. This move will have legs, considering the year-long accumulation prior to this rise.

Read more about my overview of the price action in 2015 on my blog post here: 2016 Horizon The "Pre-Halving" Pump (and Dump)

Over the last 5 days, we broke above $308 and made a high of $334.67 and consolidated for a moment before breaking above structure, creating a new 2015 high of $342.06 on 2nd Nov. If $327/333 can hold, we could see this rally to $400 and beyond.

See the 15-minute Chart of BTCUSD over the last 5 days here:


Upside potential first Targets are $400/427/441.

Downside is 318/296/280.