Bitcoin: The recovery targeting resistance at 4400/4430

Bitcoin

Bitcoin must hold above 4100/4000 to maintain the recovery targeting resistance at 4400/4430. In fact we topped exactly here yesterday. Be ready to buy a break higher for 4600/4650. Watch for a high for the day. However a break above 4800 is a short term buy signal targeting 4900 & even 6100 to 5200.

Failure to hold above 4000 however is less positive & risks a slide to 3800, perhaps as far as 3600/3500. We bottomed exactly here on the last test - look for a potential double bottom buy signal. However on further losses in the bear trend look for strong support at 3170/3130. A break below 3000 is the next sell signal.