2 levels of possible resistance

Although this upmove is looking impulsive it is no cigar quite yet. We have the red upper trend line - the 100 daily SMA, then the upper trend line of the Andrews pitchfork.

I would love to see these steamed through but it is what it is...

Comment:

Lower end of the support zone has held and given a fairly impulsive bounce (on lower timeframes). Encouraging for bulls by no means cigar time. Looks like it's painting a right shoulder of a low-to-average quality inverse H&S. I say low-average because a better looking pattern would have a higher recent swing - ideally above (at least at) the 12385 level.

There are still some fairly strong hurdles to get through before we can say we're in another bull run but the strong support at 9275 we're seeing now is certainly encouraging. I'm tentatively optimistic - as I'm not day trading BTC and hodling for the longer term I'm just watching for an overall temperature of crypto.

I'd like to see a strong break of the corrective channel with some solid momentum - big stonking green candles that eclipse several of the previous corrective ones in a single day. I'm sure we'd all like to see that.

Right now could still go either way.

Comment:

Right shoulder looking like it's done and time to attack the upper trendline of the pitchfork, next level of resistance around 12385 and the daily 100 SMA (green).

Still no cigar but I'm starting to smell cigars. Anything can happen still but it's looking good... If it break out to the upside this could be wave 3 of a bigger wave 3...