$BTCUSD heading towards $800
It seems like after a strong surge, $BTCUSD is consolidating before moving up again.
On the ichimoku chart, we can see that :
1. It is trading way above the kumo in bullish territory.
2. The sharp move upwards suggest strong bullish movement.
3. Kumo support is around $595 level
4. The last few trading sessions have seen the price level being supported by the Tenkan sen; which suggest short-term support is still in-tact.
5. A break above $652 could see the price rally towards the $800 mark.
Current sentiment: Bullish
Bitcoin, $BTCUSD retrace. Chikou Span resistance.
Bitcoin, $BTCUSD, has rallied past its resistance from the kumo and is in a pretty steep upward bulls rally.
As it hits $658 region, it will face a minor resistance from the Chikou Span formed back in March.
I expect $BTCUSD to pull back first to $604 and second support at $558.
Part of this rally could be due to Apple being open to virtual currencies in its App Store.
With such acceptance, it is likely that $BTCUSD will form a base and will be ready to head higher.
The prospects of Wilmar on the technical chart does not look bright.
1. As of May 9, it has gap down and fall through the kumo support from 3.27 to 3.20
2. The leading kumo is twisted and is showing a downward trend.
3. Long term support is at around $3.