Notice how the supply channel started on April 25th has provided support so far on more than one occasions. If that also breaks expect the new trend to be on the direction of the break out for the next 48 hours.
In my opinion this is more likely to be lower. The reason is my latest analysis on comparing this parabolic rise to similar patterns in 2015 and 2012.
On top of that I came across a very similar pattern in 2016 with the same and dynamics as the current price action. As you see below, this also shows a break-out after the consolidation on the supply/ support channel broke.
As I've said on the previous analysis a stronger pull back should make us panic. If anything I welcome it, it is an opportunity to buy lower now that the new bull market has been confirmed. Do not get carried away by the current and lose your long term goal. Such price action is dangerous to push you into making mistake and rushed decision. Stay with the long term dynamics.
Let's see what the weekly close has to offer.