Finally, some exciting news in the world of Bitcoin.
See my update from 03/18/2019 for previous context. Today’s price action is looking really good for the bulls. We have a break out from the pivots tops that formed our “shelf” near 4200, we punched through the 200day MA, and peaked up above the long term primary resistance trend line, but as of this post currently trading below, which is essentially a trend line bull trap.
The bulls will want to see that primary resistance trend line broken, but if it doesn’t happen today, and the daily bar closes as a bull trap along that trend line, we may see a slight pull back before resuming higher. Once that primary resistance trend line is broken and price holds above, the next pertinent level of resistance is near 5800.
The only way this large of a move could be invalidated and be considered bearish is if we were to see a sell off back below the 4200 "shelf" over the coming days/weeks.