BTC - Failed Break of Trend

What was shaping up for a monumental break of trend, as price action breached the 8 month primary trend resistance, was sharply rejected. The size and strength of the failed break of trend should give pause to any long play at this time. We will likely see a retest of the prior support zone, assuming the daily close is as ominous as the current daily bar (as of this update). Furthermore, we are currently holding below the 50day.