Bitcoin has managed to break the downtrend set from its all-time high back in December. What once was resistance is now acting as support which is a bullish sign to me. We have a new trend line (in purple) is acting as resistance, but Bitcoin has continued to hit higher lows and as I highlighted in green, has formed a nice pennant. A bearish cross of the 50MA over the 100MA in addition to a rising wedge signals a future fall back down to support. Hopefully here the Bulls can push through this trend line to our next initial target which I set at around $12K because Bitcoin hasn't been able to get past it the last two times it has tried. Third time is a charm, right? A fall through this would take us to either the dotted gold trend line or down to the pink support line at ~$9,300 where we previously bounced off of. At the moment, I like what I see from BTC.