Chart of the day

Bitcoin is testing the upside channel uptrend resistance 44200. To extend higher, we must see a confirmed break above this level to invalidate the reversal lower.

A rejection here will confirm the upside five waves finished specially in the case of a break below 41900. We need to see a clear confirmed break below 41900 for the short trade swing entry medium-term to be justified and to confirm that we have seen the five waves upside finished.

Short trades could be opened in the case of a break below 41900. Long trades should be opened only upon a confirmed break above 45000. The instrument is making a key resistance test for an upside extension.