Bitcoin Starts To Recover, New Target Is Set At...

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Yesterday we marked a new higher low for Bitcoin compared to the June 22 candle-wick.

The day is starting with good momentum with prices recovering strong... Here is the 4H chart:
The volume is really strong and prices went from a new low to right back above EMA50, signaling good momentum and strength.

We also get the biggest volume bar since June 22 on this same timeframe, 4h.

Now, looking back again at the daily chart , we have a new target.

Last time the bounce was small and only hit ~$35,000 USD per BTC .

This time it can go for longer and we can hit $40,000 or $45,000+...
What's your take?

Do you believe this is possible?
We just had a higher low and EMA10 is being challenged as I write this post... Leave a comment with your thoughts, charts and opinions.

Thank you for reading.

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If it shows a falling up structure - much like the dump then yes. That will indicate trapped shorters and no conventional retrace measures until it looks for a higher high. Without a higher high resistance will continue the sideways ranging - and that's fair enough.