Chart of the day

BTC is testing the strong upside resistance of 25000. A break below this level would lead to a downside extension to 17400.

This is still viewed as the fourth wave of the downside five unless we see a break above 33000. In that case, an Inverse H&S formation will be validated, and as well break below 25000 will invalidate the formation.

Long trade, You can open here with the stops below 25000. You can reverse to a short trade entry in case you are stopped out from a long trade. We favor the long trade entries as we expect an upside extension from this vital support at the rising wedge.