[BTC] It's Over 9000: Wave 5 Complete, Bears Increase Pressure

So far BTC has seen a massive rally from its double bottom; along the way my analysis has been cautiously bullish, with bearish correction possibilities in mind at specific levels. Since we are fresh out of a steep bear market, the first major bull rally is more of a time to gauge how much strength the market's recovering and how fast, rather than getting full-on bullish from the jump with the risk of sudden downside with a return of the bears.

Depending on how much short pressure and profit taking occurs at these levels, the bulls could still fight their way a bit higher before a true correction. However the technicals point to a correction soon and favor logical bearish entries: the rising wedge could still be in play, 5 waves are complete, the RSI is overbought, there are multiple strong price resistance barriers right above us that will probably require a pullback and fresh momentum to break through, and bears are already wicking down further breakout attempts. We'll see what happens.