A positive overlapping signal on could be a motive to breach the neckline, while on the wider time frames, (you can zoom out the chart and see the coordinates) , this breach could represent the key to exit the dominant short term correctional trend that was started recently ...
That's why the current areas could be the next destination key for Bitcoin ... The could be revived.
We are trying to see the best way to predict it , if there's any way to do so .. and the best thing is not to trade it ,, just watch and study for enough time to feel yourself managing it ... and at the end; dont trade it :)
As you have not shown the more possible downward scenario, your observation is not neutral... I am shorting the hell out of bitcoin at prices >780