Trying to stay flexible, (without driving myself crazy). Here's the case for a bullish breakout: three days of extended sideways action continually testing this upper range of resistance, next stop would be north of 8k.
Trade active:
Wouldn't be surprised to see price run toward 8k with a harsh rejection a hair under, (7948-60's) -depends on how many shorts would get liquidated in that scenario.
Comment:
careful of that larger rising wedge pattern though... It's why I'm arbitraging with a 4k target.
Trade active:
Careful of scam wicks, stop is in profit & won't be surprised to see it hit. Let's see how much steam this pump has, otherwise it'll dump hard the opposite direction imo.
Trade active:
$15 from the 8k hurdle, tbd if it's got enough steam or if we'll see a rejection off this level. Stop in profit low 7900's.
Trade closed: target reached:
Target hit 8180 to the dollar.