Bonfires_Down

Bitcoin undecided

BITFINEX:BTCUSD   Bitcoin
So Bitcoin has decided to break to the upside after the recent consolidation. I don't think we are out of the woods yet though. The volume is still low, so there is no decisive move. And price was actually rejected at the 20 MA line. The price has been hugging the 100 MA and those two lines are about to cross. If I see that Bitcoin can break above the 20 MA I will consider doing a small position, but I'm certainly not convinced that we are back in a bull market yet.
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