XBT has formed the mac daddy of all mac daddy uber bullish formations with a a triple inside bar, double pin bar inside bar, pin bar fake out. Not sure I have ever seen one of these actually. As a side note, monthly price action is bearish, so this should be interesting. As always, nothing is 100% but boy if this isn't way up there in the high probability range.
I didn't realize the daily candle had so long to close yet. the candle has fallen below the key 10,300 level. Really weakens what could have been a very powerful buy signal. But, we'll see, a little bit more time before it closes for it to redeem itself.
Chart of the day. While XBT has gone almost no where over the past few weeks, ETH is up about 20%. It could soon be testing the upper resistance band. We will see if it breaks this time.
This would need to hold by candle close, but if it does this significantly increases the likelihood that bitcoin price breaks up and out of this multi-month consolidation