$BITCOIN, Locally - LONG; Globally - SHORT!

After a long consolidation inside a tight corridor, today we can see that this long flat is very close to the end. The thing is that the $BTC has formed not only a channel, but a triangle as well. This triangle has no bullish/bearish signs, it only tells that soon we will see a breakout.

First of all, I want to mention that the price has formed three ascending "bottoms" and two tops which are located at the almost same level. All these points are fakeouts, it is important to keep in mind. Ascending bottoms tell us about increasing demand of buyers, while tops tell us about the big sell order which is located at the $9760 level. So, in case this level will be broken, we would see a big upward impulse.

The local priority is LONG, but globally we are still targeting SHORT to $8300, you can read our Previous Idea where we explained why so. We can consider this upward movement only as a correction of the global downward movement. The resistance of the upward movement is $9760 - $10060 from where the price will be rejected and will go downward.

By the way, I want to remind you that in case the price breaks through the $10000 level and takes hold above, the decline to the $8000 area will be postponed for an indefinite period.