#BTC Yesterday’s price action and expectations are almost the same. The daily chart printed three consecutive bullish candles as well. This was also the “douding” I discussed yesterday: it will continue probing higher and try to break through 795. Even though it stopped at 791, it’s normal that Saturday couldn’t break through, because Saturday’s price action is usually much smaller. Sunday is different, though—Sunday night’s movement is relatively bigger. So after these three consecutive bullish days, will it reverse or continue to break upward?

Once it returns above 780 and forms a bullish structure, the bias is already more toward the bulls. Probing higher again is also very likely to be broken through. However, one thing to note is that if it directly surges and breaks above 8, then there will be a large amount of sell orders at 810. It’s not really likely to hold there immediately; the more likely path is to go toward around 813, and then move back for a pullback. At that time, we’ll see whether it can hold in the 8-range. Overall, during the day it can continue to look for upside by keeping the lower “douding.”

Watch the “douding” around 784 to 781, and then around 808 to 813 as well. Once it reaches around 813, you can take a close look. Then watch for a pullback in the 1000 to 1500 point range.