BTCUSD Daily Chart update - May 30, 2018

https://www.tradingview.com/x/MUmZt3Dn/

As expected we did get a big $500 bounce. We had bullish engulfing candle that closed near the highs. A close above 7,550 is needed to confirm a continuation towards the $7,800 resistance level. A move to this level will also confirm a medium term bottom. Still way early to talk about a long term bottom however. The TD Indicator flipped to green 1 today. RSI bounced, MACD flattening out and getting ready to cross up potentially.

Weekly: Down

Daily: Neutral

4 hour: Up

1 hour: Neutral

Prediction for the day

A consolidation in the $7,500 area before a move higher above $7,600.

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