BITCOIN Support Holding Closes Above $6,440

The $6,440 level has been relevant. We saw rejection until recently when we saw bulls push prices above this resistance to now form support. Support has shown to hold up and we're seeing closes above as bulls recognize this level as significant.

Volumes have tapered off a bit and we're looking at nice consolidation. Hopefully we'll see bulls take prices up again. If this candle closes in it's current shape (less than an hour), it'll be a very bullish looking hammer with a long handle. From there, we'll need follow through.

On the daily, we're looking back at another up trend. Hopefully this will be like the last one and we'll see some steady and consistent upward movement.

Overall, technicals are still looking bullish and favoring bullish upside.