On the daily time frame, BTC has formed a , an , and, a golden cross has occurred between the 50 and 200 day weighted moving averages.
Notice how the blue support has held since $2,918. The price has respected that support four times.
A breakout will happen if and only if these conditions are satisfied:
1. The 50 day continues its ascent above the 200 day
2. The price breaks the downtrend line and finds support above it
3. The price finds support above the 50 and 200 day VWMA's
The first target is the .618 Fibonacci level near $18,000. The max target is the 1.236 Fib extension.
Finally, this idea is automatically invalid if the price violently breaks the blue support.
These are my own ideas. Please do not construe this post as investment advice.