Looking at heavy resistance at the $6,000-$6500 range after the most recent run. Expecting a pull back to reset RSI levels before a continued rise. Not much resistance until around $6,000-$6,500 as BTC looks to gap fill the area marked. Gaps will always fill at some point in a healthy market, whether up or down. In this case BTC is Bullish and trying to fill a large gap back up to the 6k+ range. Playing this gap fill for the short term would be considered a lower risk trade. However, a full bull market could be a ways away and this move could be the formation of another equilibrium pattern (a lower high forms at or around 6k) that could send us sideways for a few months. Major resistance at the $4,200 level (before recent breakout) was broken and now has turned into a nice support level, making $4,200 a good place to accumulate around. Took around 6 tries to break $4,200, making it very strong Support now. Playing for short term gains here is the best option until we get to a full bull run. The potential to drop is always lurking, although I do not see us breaking down below $4,200 support again. If it does then look for the mother of all double bottoms at the $3,200 level and major reversal. Being patient and accumulating are the name of the game.
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Consolidation right now, lets see if we get another push up or the rocket has slowed and could test new support levels in the near future.
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Booom! Just need a little more volume and for the $5293 to hold and the gap fill will continue.
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Closing in on the local Top! Give that play button a press