After five days of challenging but being rejected at $8600 resistance, BTCUSD broke through and we got a 4hour close above it. But there was no follow through.
Now price is challenging the trendline from last week to the downside. Will we see a continuation of the uptrend or do we have a breakout failure?
I am looking for a 4hour close above $8830 to signal further action up, and a 4hour close below $8200 for bearish direction.
As always, this is not financial advice, everybody is responsible for their own trading, I am just sharing my own analysis.
Happy trading!
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