![bitcoin.png](https://steemitimages.com/DQmVMGqsvihsvnog2RxfeunZyiTv9MerKdu35rYJ7e8gQSg/bitcoin.png)

Bitcoin is showing mixed signals today. During the last 2 days, I've pointed out a consolidation zone between the support and resistance zones denoted in yellow. Today it's broken out on top of the resistance zone. Now what was formerly resistance (between $8,150 and $8,210) is acting as support. This is a very bullish sign.

![Screen Shot 2018-04-19 at 12.59.52 PM.jpg](https://steemitimages.com/DQmTd7yLGo8Y6FTLrkWwZK5fDAZPG87oKJPavZnZCPFMfyP/Screen%20Shot%202018-04-19%20at%2012.59.52%20PM.jpg)

If we zoom out, we can see what appears to be a bearish rising wedge. This could indicate a possible drop in the short term. However, the support zone outlined above seems strong and may hold...or even trigger a bounce upwards. This is what I'm referring to when I say we're seeing "mixed signals". 

![Screen Shot 2018-04-19 at 1.24.33 PM.png](https://steemitimages.com/DQmZBwXDXvBBjShME1hgCpSWHLRgTULYqJbKCbnLit2KB2M/Screen%20Shot%202018-04-19%20at%201.24.33%20PM.png)
![Screen Shot 2018-03-18 at 9.55.44 AM.jpg](https://steemitimages.com/DQmUq2SAQneWQjUaiStA2dg9LbJNwPvuX5Lt9ZWD3cgG3aG/Screen%20Shot%202018-03-18%20at%209.55.44%20AM.jpg)

Looking at the 4 hour RSI, we can see the ascending support line I've pointed out over the last few days is holding. This is another bullish sign.

![Screen Shot 2018-04-19 at 1.01.09 PM.jpg](https://steemitimages.com/DQmUBjnzDDMaVpeYwQmrpvV9WXY5seKRr4rK4h1jMmcQaup/Screen%20Shot%202018-04-19%20at%201.01.09%20PM.jpg)

Looking at the 4 hour MACD, not much has changed. We're still waiting on a breakout above the wedge. 

![Screen Shot 2018-04-19 at 1.02.51 PM.jpg](https://steemitimages.com/DQmdAJmZi4V6xzakJxHapTE4iTcWZywPmQkNAKEZLdSBZBH/Screen%20Shot%202018-04-19%20at%201.02.51%20PM.jpg)

Finally, as I've been saying, I want to keep you all updated on the LOG scale chart. For those that don't know, this is the chart that analyzes gains and losses as a percentage of movement rather than price. Some analysts ignore this chart while others swear by it. I believe it has merit.

There's a clear descending triangle on LOG scale that has not yet been broken out of. I believe once Bitcoin does breakout, an uptrend will be confirmed and we can officially call this a "bull market".
Bitcoin is moving closer to the apex. We may see a breakout within the next 6 days or less.

![Screen Shot 2018-04-19 at 1.42.27 PM.png](https://steemitimages.com/DQmUnVtR9PGuJKXNT4zeWiyVDVFyLDuwqwvYRbF3CFtCL4A/Screen%20Shot%202018-04-19%20at%201.42.27%20PM.png)

## **BIAS:**

I remain neutral in the short term due to these mixed signals...although my gut tells me we may be ready for a rise. I'm VERY bullish longterm. 

![DQmXB9aF8ZeQAEgsHbLu8ZiHCrPTrujQp3YMHZykKGiBoyx_1680x8400.png](https://steemitimages.com/DQmeVCv1Rz2YZ5w6QCgJhb2Cvrm5E9R2RB5xnVv36cE92pU/DQmXB9aF8ZeQAEgsHbLu8ZiHCrPTrujQp3YMHZykKGiBoyx_1680x8400.png)

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*Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research and invest responsibly.* 

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