As noted earlier in the week, this range is where bears take their stand. This resistance trendline persisted for over two months now, but we are approaching the moment of a likely breakout to the upside, its just a matter of whether bulls can muster a breakout here, or we ride the resistance down a little longer first.
Bullish would be a close over the resistance trendline and $46k; weakly bullish would be a close inside the box; neutral would be to continue crabbing against this box and/or trendline or even break through the trendline sideways; and bearish would be a close under $42k.
Bullish would be a close over the resistance trendline and $46k; weakly bullish would be a close inside the box; neutral would be to continue crabbing against this box and/or trendline or even break through the trendline sideways; and bearish would be a close under $42k.
Note
Daily view. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.