Total speculation here but just showing you what I'm looking out for.
I see a possible Head & Shoulders (yellow). There's a similar pattern on Bitstamp too. Neither are totally convincing, but worth pointing out.
If it does end up hitting that target, it might be a good setup for another larger Head & Shoulders (orange) if it decides it's not ready to go further up yet. If that plays out it would also start to look like a Rounding Top on higher timeframes.
Or it could simply keep consolidating and turn into a Triangle/Wedge shape (purple) and then we'd just look for a breakout.
...or it could just do something totally unexpected...it's bitcoin.
How's that for being totally noncommittal? I'm bound to be right somehow! :)
@jostitrade, you know - I literally just got done listening to that since you posted it, and half agreed with him about bitcoin but still felt like he was wrong and we needed some retracement first. The very second I closed the video and looked at the charts, bitcoin death spike :) Still bullish on bitcoin long term but I figured some downside was coming