I posted this chart a while ago saying bitcoin was at the bottom of a channel and shorting would be unwise until confirmation of the channel was broken. I advised people of a possible bullish scenario which played out with heavy volume, but fell off the next day. Now, yet again Bitcoin has played the EXACT same scenario as yesterday, we could expect the same thing to happen, bitcoin breaks to the Red 200 hourly MA (which has served as a strong resistance for BTC as of late) than sell volume comes in and BTC drops back to the bottom of the blue channel. However, we recently saw a lot of volume come in at the bottom of this channel today yet again. But more than yesterdays. The buy volume is getting stronger as we get lower. I believe we will beat bears and break out of the blue channel. A confirmation of this would be a break above 4400. This would confirm bullish intent and a possible retrace to 4750 and 5500.
