MidnightOne

MidnightOne Updated 

I believe this is only the beginning of a breakout. See details in the chart. (no time component implied) Below 9600 would invalidate this idea.

MidnightOne

If you know wyckoff - the chart is self-explanatory. The only thing I want to add is we have a small gap on CME 7645 to 7815, closing which is perfectly within structure of presented chart.

MidnightOne

We have been in overbought territory on the daily for quite some time, now we are overbought on weekly and the move became so parabolic I don't see it being sustained for much longer. Bitfinex is trading at a discount, bitmex funding returned to 0.01%, so this may be the end of current rally. Be advised though, shorting parabolic moves is very dangerous and...

MidnightOne

Just a little idea Jesse Livermore would approve. Additional info: shorts are not closing, alts are still dipping. We are at a resistance, but the last move up proved that the bull is here.

MidnightOne Updated 

We are at a 5000-5700 resistance level. This coincides with Weelky 50 MA (yellow) and the top band of Weekly 21 period BB with standard deviation 3.2. Also weekly RSI just closed at 60. I believe this is a first sign of the upcoming bullrun, but looking back at the previous prica action at these conditions I think we need to retest the Weekly 200 MA (green) one...