Huston we have a problem

in bitcoin •  6 years ago  (edited)

 Seemed that btc usd returned back above the neckline of the small H&S pattern (it's no more relevant so I did not draw it on chart) and everything is all right but then I drew a new chart and saw that we still have a resistance to overcome. 

 Bitcoin is trading close to the trend resistances one is ascending and the other is descending which could form a powerful barrier for further upmove for the moment. Things are still difficult. The decision to sell is very dangerous due to the impulse structure up still in play. I suppose that we'll see another low to low move updating the local low on 3780-3850 levels where we would able to buy with 4200 tp again.If we break immediately the X-mark formed by two trends it will open the road to 4200 and we could buy with reduced volumes adding more after the 4200 break. We'll see. Don't hurry still) 

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