Uptrend Force Makes Breakout Likely
Bitcoin has smashed back into the new "downtrend line" from ATH. This 3 day uptrend is a solid trend continuation of the previous 3 day uptrend after a nice correction down to the $360 area. At this point the uptrend has serious momentum just starting. ADX has turned up, CCI is just above 100, and MACD histogram is accelerating into positive territory while the MACD line is trending up from the 0 line.
Basically we've hit this "downtrend line" with such force that it's likely to break. If you're long I would hold as long as you can to see if this breaks. If you're not in a position I would wait for the break to happen before going long. If you're short: stop shorting uptrends :D
Keep in mind this 3D chart can have some volatility on the lower timeframes, so I would make sure the uptrend is clearly over before going short if this "downtrend line" proves to have any worth.
Basically we've hit this "downtrend line" with such force that it's likely to break. If you're long I would hold as long as you can to see if this breaks. If you're not in a position I would wait for the break to happen before going long. If you're short: stop shorting uptrends :D
Keep in mind this 3D chart can have some volatility on the lower timeframes, so I would make sure the uptrend is clearly over before going short if this "downtrend line" proves to have any worth.
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