There is no doubt BTC have been moving in PARABOLIC pattern with little or no retracement all the way up.
Suddenly this heavy momentum seems to be fading away after hitting close to 8400$, which give most analyst reason to think time for retracement is almost in. With most of Oscillating indicator showing huge overbought.
On my chart I put up 2 Parabolic Arc with one serving as support and other as resistance, we can see how the price keeping holding within this two range.
We should keep an eyes on the immediate , if this level break it implies the break in transition of PARABOLIC move then we should expect massive drop with target towards 6500$.
Whereas a break of the immediate resistance line will take us to a new journey of BTC which will be close to 8800-9500.
The plan will be to wait for breakout of any of the above mentioned level and go in with pull back towards any of the break direction. The level to watch are 7455$ and 8300$.
I appreciate the time taken to read this analysis, I will be glad if my analysis is encourage with your likes.