Extending the consolidation on an upward slope. Long intact.

Following a 6,795.5 High during the weekend, BTCUSD has maintained the high 4H trading levels, still on Higher Lows, indicating that the Channel Up (RSI = 58.509, MACD = 50.300, B/BP = 103.6879) should be seeking a Higher High next (technically the MA200 = 7053.3). The previous 1W candle closed in the week on +5.35% in gains, completing a bullish two week streak. Although we remain long (TP = 7,500, 0.618 Fibonacci retracement on 1D), we do not expect this week to close above 7,100 as the Monthly candle has to close on a relatively significant loss (monthly sequence of the 2018 bear cycle). However the longer the price trades below 7,000 and this consolidation on 1D extends (RSI = 51.313, ADX = 41.827), the more the pattern will resemble a bearish flag. That is why it is important for Bitcoin to continue trading above the "Break out Point" seen on the chart. So far our trading plan is intact.