BTCUSD - Too soon to call BULL
From the daily chart, market conditions have changed as of the April 13th failed reversal and subsequent upside break of the long-term trend that has contained price since all-time highs (orange line).
There is immediate resistance above with a 9500 - 10000 resistance zone and the 200-day moving average. However, likely to be broken with continued upside to test the red line and 11700 in extension. These two levels are valid neckline levels for the inverse head and shoulders structure which had developed from mid-January to the beginning of March.
An upside break of 11700 would be sentiment-shifting and the confirmation of the BULL.
There is immediate resistance above with a 9500 - 10000 resistance zone and the 200-day moving average. However, likely to be broken with continued upside to test the red line and 11700 in extension. These two levels are valid neckline levels for the inverse head and shoulders structure which had developed from mid-January to the beginning of March.
An upside break of 11700 would be sentiment-shifting and the confirmation of the BULL.
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