Bitcoin rallied aggressively and reached fresh new highs signaling that the bulls are in full control. Price seems unstoppable on the short term, the main target could be the 10000 psychological level, so it should jump much higher. The rate maintains the bullish perspective after the impressive breakout above some dynamic resistance levels.

Bitcoin climbed as much as 9626 level today, much above the 9373 yesterday’s high and is almost to reach another upside potential resistance. It could take this out if will close on it or very close to it because a significant drop in the upcoming hours will signal a minor exhaustion on the short term. I’ve said in another article that the price could slip lower on the short term, but right now we don’t have any bearish signal. You should know that the perspective remains bullish as the Bitcoin is still very attractive.

Price rallied and resumed the last two day’s impressive upside momentum. You can see that is almost to reach the wl8 of the former descending pitchfork. Bitcoin jumped much above the upper median line (uml) of the minor ascending  pitchfork. The rate failed to reach the confluence area formed between the WL5 and the wl8 so it will challenge the dynamic resistance levels in turn .

A minor selling opportunity will appear after a failure to stay above the upper median line (uml) of the minor ascending pitchfork. However, a valid breakout above the mentioned resistance levels or a retest of the upper median line (uml) of the ascending pitchfork will bring us a great buying opportunity.