I’ll try not to be too smug about it but that rise up to about $500 is just about exactly what I predicted based partially on the inverse head and shoulders pattern I spotted here Inverse Head and Shoulders. Nice to see it work out on this occasion.
Heres bitstamp with 2hour candles;
Looks to be resistance at $500 and above at about $520 ish, which might keep further rises in check for a little while. I’ll be looking for support to materialise somewhere on one of those green trendlines so chance a wedge could form at these levels. When bitcoin get bullish it often surprises just how bullish it gets but for now I don’t think we’ve picked up much steam yet for that kind of action, further consolidation likely.