There are many reasons I'm skeptical about this recent "break-out." The main one being the major trendline that we breached a few weeks back and are now returning to retest. This trend line has acted as significant support 4 times in the past and has now become significant resistance and we will be facing it around the $8,600 range, which also pairs perfectly as a 78.6% retracement of the potential first wave, making it possible to be a second wave in a longer and deeper downtrend to about $4,500 in the next month. The pitchork drawn on the log chart still contains the chart perfectly from pivots made back in December/January and shows no signs of bullish confirmation. The RSI looks bullish on the 12 hr and daily time frames for now, so that's a plus, but all other signs are pointing towards neutral/down for me as the volume also has been fading in the days since the surge to 8k. There's your elementary TA for the week see you on the next installment of bitcoin bear-bois.