Bitcoin : Approaching crucial level of resistance

Bitcoin is now approaching the blue resistance zone which I've anticipated on my previous analysis about bitcoin. The blue region here is having an alignment with the white support trend line which has held the price from further drop down.

I'm pretty sure at current rate, there is a phase 2 that is forming now. As we can see the phase 2 of break out strategy is the action of retesting the previous broken support as a resistance now. We've seen the initial broken down from the support trend line at August 25th and this could be the reaction of the previous broken down action. The price is now reaching out for the blue region again to complete the phase 2. If the price can breaks above this resistance, the conclusion is that the price is having a bear trap structure. But, getting rejected from current region will means the phase 2 is valid. Any position will be shared once we get the confirmation of this action.

Komentarz:

Bitcoin is still trending slightly below the blue region which I've anticipated as a strong resistance zone. During the price action, the price is really struggling just to break out from this resistance zone. We've even seen a push toward the yellow region which is the area of $11500 region as well. We must wait for more reaction as well whether it will break out of this resistance zone and give us the validation of bear trap or not. Wait for the 4 hours candle to closes.