Bitcoin has bottomed out ... for now

A tradable uptrend in Bitcoin, is in the offing.

We begin the analysis with a 3-month chart of Bitcoin Reference Rate

The 3-month chart of the bitcoin reference rate shows a pennant. This
pennant's previous move started on April 1 at 6505 and ended on May 5
at 9915 So we can estimate the next move up to climb 3410 from the
breakout when the breakout occurs.

The pennant has tagged the lower Bollinger band at about 8000. The
bands are diverging, and this also suggests that prices are likelier
to rise rather than fall further.

We now see the Bitcoin futures chart.

The June 2018 Bitcoin future also shows that a high volume was
absorbed on Friday without a large fall. The high volume may be the
result of rolling over of May 2018 positions to June. Even so, there
is no doubt that demand exists. This demand is likely to drive prices
higher.

So, buying the Bitcoin June 2018 future is recommended at the current
levels with stoploss at 8149