Bitcoin: Long or Short from here ?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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Bitcoin showed a sluggish dynamic on the weekend, slightly fluctuating inside the narrow range.

* An attempt to test the Resistance at $8,500 occurred, but the Bears immediately came into play driving the Bulls back to the minor retreat level at $8,150.
* At the moment, Bitcoin is again coming closer to the Resistance level , but the core question now is whether the Bulls have enough power to consolidate and break it above.
* We suggest that the retest of $8,500 could recur, so trying speculative (scalping) Longs from $8,300 with a tight Stop-loss of 50 b.p. looks reasonable.
* Should the price fail to break the Resistance up with the Bears shortly taking the lead, Shorts must be triggered with a target at the lower Support of $7,700 - $7,800.
* Both indicators, RSI & MACD , reside in a Neutral position.

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