Will Bitcoin break out pass 5340????
Bitcoin has been going sideways between 5150 to 5300, these level have been heavy resistance for the past week. The resistance trend line that we have here we haven't break past it in the last three days. I don't believe the bulls have enough strength to break these levels, the bulls have been losing steam for the past three days. The local resistance level 1(drawn in the red box) around 5340 if the bulls can break these levels we will re test the next resistance levels around 5400 to 5500. What I believe with this analysis that will are very bearish and bitcoin will fall to the next support levels between 4900 to 5100.
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