Bitcoin is still in a sideways consolidation pattern. I would liken it to be a Triangle pattern which happens to be a decision zone. Since we are seeing lower highs as well as higher lows based off the recent 3 days price movement we will see resolution to one side in the coming day. This is a good pattern to buy at one of the price dips and set your stop there. If it breaks that point you will be taken out of the trade and have to reevaluate what the pattern is doing. If we see upside you will be in the trade and can trade the pattern in a larger time frame.
Time of Resolution:
Looking at the chart we should have resolution of the pattern by April 15th at 3:30 HST (Hawaii Standard Time) This is shown by the red vertical line.
What does this tell us?
This move will tell us if we are going to continue this bullish uptrend and head toward the upper resistance level we saw a month ago. I still think that we are making a running flat so this is an important decision zone if we will see a pull back to the lower support line once more as it did a month ago for the upper resistance line or if it will continue to head up. Either way I still see upside potential in this chart but for the short term we are in a decision zone.