Bitcoin on the medium / long-term resistance wire, with a Bearish flag that could break resistance.
As can be seen from the price chart, in image 1, the price of Bitcoin is walking on the medium / long term resistance:
Image 1: tradingview – btc / usd – timeframe 1 day – 2018-05-26 – bitcoin on the resistance wire
The oversold RSI, together with the resistance, would support the hypothesis of the beginning of an uptrend.
A totally contrasting hypothesis is given by the Bearish flag which was formed in the short term and which is can be seen in image 2 :
Image 2: tradingview – btc / usd – timeframe 4h – Bearish flag
The Bearish flag would suggest the hypothesis of a down trend that could therefore break short-term resistance. This hypothesis would also be corroborated by the low volumes of this period is from the general market trend which at this time is rather bearish.
An example of treading for those in the market is to stay there by fixing the appropriate stop loss immediately under the medium / long-term trend. For those who are outside the market it would be better to stay out waiting for an improvement in the situation that at the moment seems to be very undecided.
We at the Cryptograph Team were IN for a few days and we will continue to be waiting for developments.