Drawing a on daily or 4h says we can expect price to head further toward the median at around 5800-7200. My best guess is we goto 6800-7000 and see if we can close above median, but it fails or goes right back down.
From observing the markets it may go as high as 7450, but then I think we enter a leg-c downward. TD says we have a time-frame of several 1h candles to at least a couple 4h candles.
With cryptocurrency markets and transactions moving at an even faster velocity anything can happen.
If you guys are leveraging, use low leverage as I see people getting rekt on both longs and shorts. Perhaps put in stop slightly below current price level and set target around median of .
Another low risk trade would probably be to accumulate alts or short alts as leg B of btc/usd goes up, then Take Profit (TP) and close trades.
TD says we have at least a few hours to go to possibly a few days to go. But I do expect price to start going downward after.
I can be totally wrong, but this is what I think is going to happen.
Lastly, look at the wall street cheat sheet.
Leg A would be from the top (Euphoria/Optimism at its highest) to where it bounced.
Leg B would be from where it bounced to a lower high. ---Complacency
Leg C would be from the lower high (Complacency) to a lower price (Anxiety).
This is all part of a market cycle.