Bitcoin Channel and the Bull Trap ?

Is this channel valid and is this a bull trap inside it? Only time will tell....

$10,600 has got to hold to keep this run up valid and we have to break out of the channel and stay out.

I still have my base long position and a pile of cash. Just waiting for the right opportunity to add to my longs.

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Close up 1 hour view

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3 minute view with a H&S. I hate the H&S but that's what it looks like. Gotta go, I check back when I get home to see if this was even close. lol

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The price is clearly out of the channel and it doesn't look to be coming back inside any time soon. If we break 12,065 there is a good chance it keeps going.

What people are calling a WXY or WXYZ could just as easily be an ABC for Wave 4 and what we are seeing is the start of Wave 5 up. That's how I'm currently playing it until prices say otherwise....

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The price is back inside on the 4 hour view. There is most likely going to be a very strong move one way or the other. This rubber band is just too tight.