After bouncing from the $6000 supply zone and coming back into the $6800 resistance last week. BTC retraced to the 61.8% fib support level and formed a lower low respecting the Head and Shoulders pattern. As well creating a cross over on the daily moving averages. Last night BTC broke through the neckline resistance level resulting in a surge through the prior $6,800 resistance level. It has now met my upper .618 target. But with the current bullish momentum I believe that will not stop it. I am now looking for the $7,800 resistance level to be fulfilled in the short term which as well aligns with the daily 200 EMA (red). Once this level is met I will not be suprised if BTC is snapped back down to the lower levels once again.