Just wanted to share some observations. Early days yet and nothing is confirmed. Wait for breakout and observe if the upper line of the Ascending Parallel Channel pattern forms a resistance and that the bottom line forms support. If it does then we have some way up to go on a longer term with this pattern and can continue trading within the ascending parallel channel with tops and bottoms, if it plays out. Some might call this a bear flag but not after that daily close and the formation of a possible H&S Shoulders Pattern which is usually a bottoming and reversal pattern.
This could still also just continue on the descending parallel channel pattern too (the dark area).
Only trade breakouts with confirmation candles and beware of fake-outs.
Also take not that the CME high candle close on the Friday was around 5935 and the low wick was 4120. We might range within these price points till Monday but hoping for a weekly candle close above the 200MA around 5500$.
Good luck.
By the way ETHUSD forming the same patterns too.