This has been an incredible run in Bitcoin. Up over 8000 points in just eight days. But she is really stretched and we need to be on the lookout for an imminent reversal as the chart below suggests. If you missed the explosive near-vertical rise there is always another shot at getting a good entry once the coming  pullback has completed.

Indeed that is what I will be watching for. But first things first. This rise is likely to overshoot the patterns resistance line due to its incredible strength. A consolidation will follow…. then the decline. Patience is in order. I hate trying to catch extra points at such a late stage in a move and prefer to stand aside and let the chart sort itself out for a period before trying to re-enter the trade.

With Bitcoin, waiting is the hardest part.