Last week we have seen a nice rise design of over 15% and we broke the blue resistance block. We also see that the course also went through the cloud of the ichimoku which is very bullish especially with the cloud twist we can spot. Last time there was a cloud twist on the chart was when the bull run started. Let's look at it step by step.

Weekly chart



Here we see a powerful outbreak of the yellow and blue zone with a lot of volume. However, the volume was only for a short time and immediately dropped back to the level before the outbreak. And when the price today does not get above yesterday's high and closes it looks like a higher high is going to be printed, but I think there must have been at least 2 candle closes after that for confirmation. On the rsi we also see the momentum decreasing and a test on the ema seems inevitable which currently has confluence with the 70 line.

If we measure the inpulse wave with the fibonacci we see the golden pocket confluence with the yellow block. A retrace to this level will not be that crazy.

Daily chart

4H chart
The four hour chart doesn't look very strong today. After an HH was set, it immediately collapsed again and is now likely that a lower low will be printed. The ema's are still bullish only the momentum decreases which may indicate a bearish crossover. The rsi has already made this crossover and continues to drop slightly. Not to mention the volume because it is dramatic. Furthermore there is not much to see on the 4h graph so we take the 1h graph as well.

4H chart

1H chart

Here BTC is in a side-warrant range where the short ema's (8/21) are crossing bearishly. Also the rsi is already bearishly crossed here and is located in the neutral zone below the midline.
I can't conclude otherwise that on the lower timeframe there has to be a retrace before we can look further up because on the higher timeframe I am definitely bullish. I expect the retrace to take place somewhere around 11.8 - 12.2K. If we don't keep that level then 10.8 is the next stop. The next resistance zone we are going to encounter will be around 14K and on the 16K there is still a thin wall of resistance but we can say that after breaking the 14K the road is pretty much clear towards a new ATH.

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