Currently, the market is in the state of euphoria after the new ATH new traders are joining the market convinced that this must raise even more. Open positions are being reduced, both shorts and longs, players possibly reduced open positions and awaits what will happen next, newcomers are buying at the market prices, those who did not buy yet wait for the correction which may not come soon enough for them - typical 3rd Elliot wave situation (as I already mentioned those waves are now hardly visible).
In my opinion not until 5500 level will be tested, this can bring down the prices to the level of 5250-5050 or lunch the price to the areas around 6000.
I will observe market behavior closely as MACD 30 min shows some sell signals and the flag created during consolidation under 5000 reached its target 1 area of 5353 and is close to the target 2 at 5521. Beside raise around 10% a day can't happen each and every day.
In my opinion not until 5500 level will be tested, this can bring down the prices to the level of 5250-5050 or lunch the price to the areas around 6000.
I will observe market behavior closely as MACD 30 min shows some sell signals and the flag created during consolidation under 5000 reached its target 1 area of 5353 and is close to the target 2 at 5521. Beside raise around 10% a day can't happen each and every day.