Short term analysis of BTCUSD

Hello.
Let's look at 4 hr chart of BTCUSD

We are facing new resistance trend line(dotted skyblue line) and fighting to go through it after the first resistance trend line(dotted red line) was broken.

If we go through the dotted skyblue line firmly, we can expect the price of BTC will approach to next resistance level which is the combination of the white line and 0.5 retracement(13725, yellow box)

I think we should close long position at the yellow box because the minor downtrend channel is waiting for us.

Thanks for your reply.
good luck to all

Kommentera:

Breakout!
There we go