Bitcoin (BTC) Evening Update: Long Term Support Has Held & Daily MACD Curling Upwards

SUMMARY

Bitcoin (BTC) price has breached the upper wedge line and is currently sitting on it as support. Price needs to impulse in a very clean five wave impulse. I believe overnight action will provide additional waves to be placed.

The below closeup shows that the five subwaves of the final red C of blue e can be considered complete as result of the breakout. The temporary piercing of the bottom line as white wave 5 produced the projected bull wick.

This is the log char with the long running support line which has held thus far and from which price bounced off of into the current rise. What is very interesting is the daily MACD. The 12 day moving average (white line) is curling upwards (blue circle). A bullish cross would be highly desirable.

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