Bitcoin: 125K ATH Then Comes A Pin Bar?Bitcoin / US DollarCOINBASE:BTCUSDMarcPMarketsBitcoin straight to new highs above 125K and now showing a bearish pin bar. This is qualifies as a failed high or fake out so far, especially if this candle closes like this. This recent price action signifies that the current consolidation is a wave 4 and this bullish move is likely the beginning of wave 5 which can see a test of the 130Ks UPON a successful breakout. IF the pin bar confirms, a retrace back into the 118K support (old resistance) is likely to play out this week. The illustration on the chart represents the pullback scenario I am anticipating. The arrow points to the pin bar and new all time high. This outlook is best utilized for day and swing traders and requires confirmations on intraday time frames like 15M, 4H, etc. As far as the risk on the bigger picture goes, this is a range high and the failed breakout means any new longs taken here for the purpose of investing contain the highest amount of risk. How you play this game is highly dependent on your personal relationship with RISK. If you can handle throwing 10K into Bitcoin now and watch it get reduce to 8K or 5K over the next few months (assuming no leverage), then you have tolerance for risk. Maybe Bitcoin rallies to the 130K area or potentially higher BUT keep in mind, in my opinion, the risk taken a new highs like these is not worth the potential reward. For example, sitting in a 20K retrace is not worth hoping for a 10 or 15K point profit. I personally prefer to get better prices that offer greater probability and potential. The question is are you willing to WAIT? Many are not. I am not bearish on Bitcoin, I just don't like buying potential tops. Also there is some potential for surprises in the next week or two with the delayed NFP report and the next CPI. While these may have a position effect on the general market, there is potential for a negative surprise. May be enough of a catalyst for Bitcoin as well. Just something to think about. Thank you for considering my analysis and perspective.