Top resistance on the 12 hour Ichimoku cloud is currently under threat as well as another fibonacci arc, when coupled with a descending triangle from the ATH it seems BTC faces a formidable test....However, so far (on this current run) bitcoin has proved to be an absolute monster and has obliterated any challenge it has faced I personally do not have any reason to believe these resistance levels will hold long enough to force the bulls into a significant retrace. Although I do believe a pull back to 10.2 and then a consolidation between 10.2 and 10.8 would be great for bitcoin and would most likely launch us onward and upward I have yet to see any evidence for such a pull back. Until I see otherwise I will assume bulls are firmly in control during the short term (next 24 hours) and will wait for a hard break (and hold) under 11k to change my mind on this.
Comment:
For now Ichimoku has held and the daily has closed with a massive Inverted hammer...this could be good news for bears but during this run bullz have proved resilient.. interesting indeed.