Evening Traders. 

Things are looking up a bit on Sunday with BTCUSD testing above the falling wedge top in early European trade:

[![](https://steemitimages.com/DQmWM2esdXsBeT3Pvg1t4Cp2VvzTDEqXcSMSTVrxc4CvgkR/image.png)](https://steemitimages.com/DQmWM2esdXsBeT3Pvg1t4Cp2VvzTDEqXcSMSTVrxc4CvgkR/image.png)

A breach above yesterday's highs would confirm the break, though 4H RSI has been bullish for some time, front running this latest price development:

[![](https://steemitimages.com/DQmceBpqskTGqaycfoDLsbDbuYivw6nMJgdMVmtbCpvWtzv/image.png)](https://steemitimages.com/DQmceBpqskTGqaycfoDLsbDbuYivw6nMJgdMVmtbCpvWtzv/image.png)

Now wedges tend to retrace to the origin point, which means the focus is now back on 10K. If we zoom out to the daily chart, we have falling trend-line resistance below 9500 and dropping, so a return to 10K would be very bullish indeed:

[![](https://steemitimages.com/DQmNdddtMJ7ZaVcz5jbHdhCggTL3vTgzrVcapBR4EGU75By/image.png)](https://steemitimages.com/DQmNdddtMJ7ZaVcz5jbHdhCggTL3vTgzrVcapBR4EGU75By/image.png)

The fact that Friday's higher low occurred at the 61.8 retrace of the April-May rally bolster the case for upside. We also have CME futures expiring this week - last week showed a slight reduction in the net short position of leveraged funds and I'm looking for more of that when the next report drops on Friday:

[![](https://steemitimages.com/DQmY4umSwnxpzjtTsFgGjBmRSDXieGA3iW9Ji8C7rLrT5J2/image.png)](https://steemitimages.com/DQmY4umSwnxpzjtTsFgGjBmRSDXieGA3iW9Ji8C7rLrT5J2/image.png)

Though seasonality data is rather limited in such a young market and should be taken with a grain of salt, [this piece](https://www.seeitmarket.com/bitcoin-research-update-seasonality-sentiment-and-technicals-17947/) from Callum Thomas is quite interesting. Apparently Bitcoin often has a rough start to the year and proceeds to bottom in May/June. I haven't looked into this purported seasonal phenomena myself, though I'd wager Callum's a bit more trustworthy than Tom "Consensus Rally" Lee. 

Fingers crossed.