The Daily linear regression shows we have some room to hit $10,320 to $10,480 in the next day or two. This is supported with the current Average True Range of $325 per day and about $500 on the 2D chart. RSI and CCI on daily also give BTC a little more room for another push before we hit highly overbought conditions. This would be a good spot to take some profits because the likelihood of breaking the linear regression, and the parabolic channel, is high after this move up above $10K.
If these two channels are broken, I expect we will be looking for a weekly Higher Low to form somewhere in the $9,000s, possibly even around $8,600 (there is a small gap on the 4H CME chart at $8,600). This would be a healthy retracement in a bull trend, so there is no need to panic. Just take some profits now, and buy some more one last time below $10K if it breaks. We are currently on leg 3 of the Elliot Wave curve. I will personally be taking profits and looking to re-enter at the bottom of leg 4. The next target after that will be the $11,800 gap fill on the 4H CME chart.
Here is a clearer view of the chart without the indicators.
If these two channels are broken, I expect we will be looking for a weekly Higher Low to form somewhere in the $9,000s, possibly even around $8,600 (there is a small gap on the 4H CME chart at $8,600). This would be a healthy retracement in a bull trend, so there is no need to panic. Just take some profits now, and buy some more one last time below $10K if it breaks. We are currently on leg 3 of the Elliot Wave curve. I will personally be taking profits and looking to re-enter at the bottom of leg 4. The next target after that will be the $11,800 gap fill on the 4H CME chart.
Here is a clearer view of the chart without the indicators.
Here is a clearer view without the indicators.