Bitcoin Break Out In To Key Resistance. Watch Bear Reversal.Bitcoin / TetherUSBINANCE:BTCUSDTMarcPMarketsBitcoin pushing through 80K which is certainly is great to see for all of the patient longs, this is a high probability short term bearish reversal point. The confirmation is when price closes below 80K on this or larger time frame. Such a move can be the start of a broader retrace that can lead price back to the 78,500 area over the coming week (see illustration on chart). From there the broader structure favors support to hold followed by a new high (82K?). This is not a explicit forecast because I do not know the future. Navigating this type of movement is dependent on the confirmations that must come from price action in order to justify risk. When price levels break and price closes below the levels, that is often a sign of momentum. If 78,500 area breaks, that opens the possibility for the 75K area support. If 81K area is cleared decisively, the 83K to 85K area becomes the short term objective. Things change fast in this market. It also helps to keep an eye on market catalysts relative to the price location. For example, stock market pushing all time highs constantly while volume is been in a noticeable decline. This type of move is unsustainable and when it retraces, it will likely be sharp, so how is that likely to affect this Bitcoin rally? That is the question you must keep in the forefront. What I find helpful is to consider risk first. For example, buying now and expecting a sustained move higher on this time frame appears to be much riskier relative to the nearest profit objective. The short side looks more attractive which is usually the case when a market is pushing highs. Just something to keep in mind. Also what time frame you manage risk on a a major factor in how you evaluate trades worth taking or not. Thank you for considering my analysis and perspective. See signature update channel.