It could go up or down...

Lol.

But, yes, seriously, here is what to watch for to understand direction.

Price has held well above $94,500 for days now and overall looks very strong.

Close weekly here, I think we see a push higher into $100,000.

Get above $100,000 and hold and we invalidate any lower scenario.

Lose $94,500 with daily close and we start taking out lower regions.

My bias is on higher however, for following reasons:

- This has been a strong move with great rising volume
- Spot buying has been the main driver
- OBV is signalling strength
- Strong ETF inflows last week
- DSS Bresser, RSI and MACD all HTF coiled

And of course, liquidity is accommodative right now.

We can never totally discount liquidity hunts lower, especially with this kind of bottom pattern.

Have your bias, back it, but understand the levels and be ready to pivot incase you are wrong.

Regardless though, once this bottoming formation has come to a close and we are above $100k...

ATHs are next in sight.