Bitcoin pumped from 9,200 dollars to 9,700 dollars. It didn’t blast right through the important 9,400 dollars and the 9,600 dollars resistances, but instead saw a nice rejection at first. This is a good sign because it indicates that this could be a healthy, sustainable move up. A pump that takes out all resistance rapidly tends to be less sustainable.

This pump could have been the result of Bitcoin breaking out of a falling wedge on the daily, after having traded within that pattern for 50 days. Bitcoin may soon face the important 10,000 dollars level and breaking above this resistance could be a massive buy signal. Seeing how Bitcoin also perfectly bounced off the ichimoku cloud on the daily, scratching that important level in the next few days wouldn’t be a surprise.

While Bitcoin pumped less than 5%, Ethereum saw a much bigger increase after breaking out of an ascending triangle. That pump triggered my momentum long and, after hitting my targets at 14%, 26% and 52% profit, it just filled my last take profit order at a massive 100% profit. As always, VIPs saw how I traded this right when I set my orders the day before the pump.