BTC/USD showing signs of consolidation

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
COINBASE:BTCUSD Is showing signs of consolidation near the 17,000 resistance level .

If the price breaks above this level in the following days or weeks that would probably mean a continuation of the Hype trend (blue line). A failed breakthrough might signal the end of this trend. In this last scenario the prices could fall back to the mid-term support level or even the Long long term trend (purple line).

"The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance." - Ed Seykota


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