BTC - Breakout Achieved

What looked to be a very bullish setup over the course of the last 4-5 weeks has played out very well, and we have achieved breakouts at two different levels (the inverse head and shoulders/rounding bottom breakout near 6800, as well as the breakout of the pivot tops near 7800).

Going forward, we should see price action find support along Support 1 (upward sloping trend line along bottoms going back to February) and Support 2 (most recent breakout juncture from pivot tops near 7800). Note that "Support 1" and "Support 2" are simply names for these levels. I would argue that Support 1 is more well defined and significant, but other than that, the names are there to identify these levels for my readers.

Considering we just had a 35% move over the last week or so, we could see things cool off and test support or retest our most recent breakout level (that's not to say things can't continue to melt upwards, but given the speed and strength of the recent moves, some mean reversion may be in order). As far as next upside target, the pivot top from 5/5/18 at 9948 is next level of resistance.