Resistance Is Futile; Bitcoin Continues To Bounce Between Tight Support And Resistance Bands

Bitcoin overnight trading(US CST) continues higher. The overall uptrend continues with higher highs and higher lows – a promising sign for the bulls. The low pivot at 6355 confirms the support pivot at 6360 in Rogue* Wave Analysis. This is an important note to make as this holds less than 1/2 of the previous leg up. The continuation of the trend also maintains through another minor pattern: a flag that was created hourly over the last day. BTC upside is to seek 6600 before hitting some form of resistance. However, keep in mind that the next true resistance point up lies at 6800. Support now stands firm at 6400.

Stochastic levels continue to seek higher areas as the mid-term and daily scale show buying power entering the market strong. MACD readings also remain positive, even if only slightly at this time.
BTC is currently a buy/hold.