Bitcoin Is Looking Very Strong At The Moment, Up 8% (Video)

So, we got another nice move for Bitcoin today and we are currently trading around 9200 which is the highest level we have had since the low at 6000. Here is the daily chart:

Comment: Whats great is that we are right now above the bollinger band median (red moving line) which is great news and hopefully we can have a close above it today.

Now, if you look at the chart, you can see that we are right at the long term trendline that goes back all the way to the middle of December of last year. We really really want a close above 9400 today (Bitstamp).

The volume has also picked up, especially on the hourly chart, lets have a look:

Comment: Here we can see that the current hour has the best hourly volume since February 9th. So if we can continue to get high volume hours going forward, this does look very bullish.

Lets end this analysis with the daily area line chart:

Comment: It does look good on this chart as well, but as I have mentioned before, I dont consider this short term bear market over until we have a daily close above 11,7k.

Happy trading!