breaking out or topping out

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC is flirting with the top of its long term daily channel. There is some flimsy resistance at 9500 level. The rapid rise on the left leg does permit the definition of strong resistance other then the observation that Fib level is present just about there. In stocks and markets in general nobody cares if we are right or wrong so we shouldn't either. If it breaks solid above its channel then all bets are off. I certainly wouldn't commit big funds in any crypto but apparently some people do. Now looking at the weekly time frame things look like more ominus. Good luck with all of your trades out there.


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