Bitcoin is looking more bullish today as it makes significant gains.

The Bitcoin price is showing strength today in spite of sluggish trading due to the holiday. Trade volume has picked up just slightly, but it's been enough to move the needle from bearish to bullish.

The price of Bitcoin has been climbing since it bounced off of $2400 Sunday. It has been an up and down rollercoaster, but mostly up, which is great to see.

Cypher pattern is still developing on the 1HR chart.

I'm still watching to see if the market fulfills this Cypher pattern, which has a target of $2900 for the price of a Bitcoin. It's looking like it may make it. If volume picks up more after the holiday, I'm sure Bitcoin will have no problem making this target. Let's go uppey- closey and see today's price action.

1HR chart zoomed in.

The chart above shows how the Bitcoin price has been moving up and down the last couple of days. The price rises a decent amount, then it pulls back to retest support at the previous high. This is EXACTLY the price action we want to see. It's a more steady, but reliable increase in price. Instead of just flying up then flying right back down, it's building support areas along the way. This is a much more sustainable rise.

The RSI is in good position at about 50, and the MACD is also in the middle and about to turn up. The charts are looking good right now and I'm still expecting a decent breakout any time. I think we'll see it as soon as tomorrow, once everyone is done with 4th of July celebrations and back to business as usual. This market is primed to possibly see some new all time highs. As always, keep your stops tight and trade safely.

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