BTCUSD decision point ahead Daily chart

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
On the Daily chart we can see some resistance forming around $4100 price level. If BTC manages to break that (close a higher timeframe candle above this level) then, we can see it testing $4600. (Daily 200MA)

Failing to break up would be a bad signal as we would then likely end up testing the last weekly support for a 3rd time and that would be a bad signal.

If we do break up above the current resistance here I am going to buy the dip on said broken resistance as that should now become support.

For our members; take the Elephant trade as usual and you have the perfect entry and initial targets.

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there we go, action!
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