A persistent uptrend in BTC on the 5-minute timeframe has been going for more than 12 hours, without giving proper opportunities to build up or add to short positions.

And the price, having broken through $87,000 at the moment, has already fulfilled the full target of the “Bullish pennant” that was discussed last night:

"... the entire rise since September 18 can be interpreted as a “Bullish pennant,” which has already started and has a full target around $87,000... At minimum, it’s worth allowing for at least partial completion of it, with the goal of collecting liquidity above the May 6 high at $82,850..."

As we can see, now the impulse embedded in the pattern can be considered exhausted. This is important. But the problem for the bears is that when this pattern is played out, another, more massive one was completed as well—about which we wrote on August 18—before the start of the pump:

"- "Double bottom" - start of working off when breaking the 82 850$ level, target - the 108 080$ area."

At the moment, we don’t see any clearly bearish patterns. The "double top" is broken, the "bearish wedge" is also broken. On the bears’ side right now, there are only strong signal potential of a high from our indicator, on the significant timeframes—on the 12- and 18-hour ones.

Plus several on the lower timeframes.

And several significant liquidity zones that are already acting as resistances:

- 87 086-90 817$ on the 2-day timeframe,

- 85 804-89 792$ on the 3-day timeframe.

In theory, they should restrain the initial reversal impulse and send the price into a correction. But there is a lot of bearish liquidity in them, which can also serve as additional fuel for further growth. So it’s not unambiguous here.

What’s definite is that, for now, even the smaller sustainable trends are on the bulls’ side. That’s why we’re not even thinking about attempts to add to the short. We need signs of weakness from buyers, and so far there still aren’t any.