Quick update on the Bitcoin markets.
This is clearly bullish action and a confirmation should the prices stay above $11 000.
Futures closed around $11 000 on Friday and I would expect a retest before the week starts.
Please note there is a divergence between the PPO on the chart, which could lead to a draw down before we go higher.
The one thing still lacking is the trading volume, be mindful when it shows up, direction will be determined soon.
Should prices stay above 11k and break 12k I would expect a target of about $16 500 – $18 000 in the next month or two.
A message from the eternal bear, tread carefully should prices consolidate below 11k.