Oil comes back to the uptrend. Bitcoin drops after a false breakout above the neckline

Oil cancels the sell signal and comes back above two major resistances: neckline of the triple top formation and the horizontal one on the 66.1 USD/bbl. In addition to that, buyers used the momentum to break the mid-term down trendline (black), which activates the buy signal.

Bitcoin with a false breakout! Yesterday, the price broke the neckline of the inverse head and shoulders formation, which was drawn on the super important support on the 5800 USD. Buyers were unable to hold above the neckline and the price came back below, which triggered us a strong sell signal. Another test of the 5800 USD is underway.

AUDUSD made a pullback, which tested the lower line of the triangle as the resistance. That area worked and the price reversed aiming lower. Current sentiment is negative and is in line with the long-term trend on this instrument.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis