After higher price formation breaking the rectangle price is forming a bull flag break of this flag will push the price 12,400 region if the price break below the rectangle this set-up will be invalidated.
@Solarmass, Ehereum had a similar set-up after breaking the rectangle it is still moving high possiblity this might move if the rectangle is not broken to the down side. Yes 12,000 will be taken out if we get a aggressive bull flag break out with a bullish candle, if break out is not bullish will be cautious about potential double top formtion @12,000
rf16saun
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@Solarmass, this is just based on recent impulse move fro 10,800 and is for short term only 15 M set-up. Yes it looks like new leg higher. This is based on before the triangle break impulse move to a potential similar impulse move if the bull flag breaks, it might move higher did not do analysis on higher time frame