Price break up likely

4 May 2016

There is enough space left near the end of the wedge for the price to move up and break out. There is also significant room left to the top. Going long could turn out to be a good trade, which is why traders will begin going long even if it remotely starts going up, basically making the break out up a self fulfilling prophecy. Basically price going up from here is very likely.

5 May 2016

Not

So price fell out the bottom of the wedge but it still has strength to go up. Not sure what to make of that. Maybe my charting skills arent that good. Or bitcoin is going to make some significant moves up over the next period of time, defying this chart at least and possibly others as well.