Chart of the day

Bitcoin is breaking above the strong upside resistance of 38000 and is reaching the top of the channel 42000. A rejection here and a break below 38000 again will mark the fifth upside wave over and will lead lower to channel support.

I still see this as a fifth-wave upside finished; only a break above 43000 will invalidate that view. We need to see a clear confirmed break below 37400 for the upside fifth wave extension to be invalidated short-term and that will confirm the conservative short trade entry.

Long trades could be opened here only upon a break above 43000 and it is the time to take some profit. Short trades should be opened here with a small risk and a stop loss just above 43000. This is a key resistance here.